Unit 1 : Lesson 2: Getting money to buy a home

Document literacy: filling out applications

Your job history
It is important to keep track of information about each job you have held so you will have it if you apply for a loan. You’ll need the name, address, and phone number of each employer; the date you started and ended the job; your monthly income; and the title of your job. Sometimes applications will call the name of your job your position or job title.

Employment Information for Joe and Teresa Ramirez
Borrower: Joe Ramirez
Co-Borrower: Teresa Ramirez

Look at the job history of Joe and Teresa Ramirez. They are called co-borrowers. Co-borrowers are persons who agree to take out a loan together. Often a husband and wife will become co-borrowers, but persons do not have to be related to be co-borrowers. Both their
job histories, incomes, and credit histories will be considered by the lender. Both will be responsible for paying back the loan.

Joe Ramirez has to fill in information only about his last job because he has worked in the same place for more than two years. Teresa has been employed in her job for less than two years. She has to give information about where she worked before, or her previous employment. She has had a steady job history as a cashier for three and a half years.

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