 TITLE: Is a Recession a Good Time to Buy a House? CONTENT: Additional Considerations That Could Affect Your Home Purchase\n--------------------------------------------------------------\nWhile credit scores and credit history are always important yardsticks when lenders evaluate loan applications, a recession may prompt some mortgage issuers to give extra weight to other factors that contribute to your ability to repay a loan, including:\n*   **Employment status and history:** While any job is potentially threatened by a prolonged economic downturn, loan applicants who have been with the same employer for a long time may be viewed more favorably than recent hires or those who are currently unemployed.\n*   **Savings and other assets:** Amid the unpredictable stress of a recession, lenders will be looking for borrowers with the resilience to handle extended periods of reduced income. They may therefore favor borrowers with enough financial reserves to keep up with their mortgage payments even if they are unemployed for several months at a time.\n*   **Multiple income sources:** Loan applicants with multiple sources of income may be seen as more stable than those who rely on a single salary and employer. Two-income couples applying jointly for a loan (especially one that could potentially be covered by either applicant individually) may be seen as more resilient, and alternative income sources from side businesses, investment properties, trusts or other sources could also reassure lenders.\nIf you can show a lender that you've got a strong credit history and the financial resilience to keep up with mortgage payments amid economic uncertainty, a recession could be an excellent time to buy a house. END