“Changing Jobs Just Before Applying for a Mortgage”
I do have a question regarding my job and how it would affect loan approval etc.
I've been here for 26 months, and would like to start looking for other
positions out there with more pay, and possibly be closer to Tolland.
I currently make 56k and my wife is going to be making 81k. I'm wondering
if by being at a new job and only being there for a few months would
affect my interest rate or the loan in any way. I would be looking for a
job in the same field, just a better overall job. Thank you, Eric
The simple answer is, “not usually a problem”. As I advised Eric,
definitely always keep your eyes open for an opportunity of a better
paying job. I let him know that lenders always want to see that the new
job is in a similar line of work.
I just recently ran into a problem with a client that made a job change
in the middle of a mortgage application and didn’t tell us and when we
called to verify employment we were told that the person no longer
worked there. Are you kidding me?
I called in a panic and he said he didn’t realize it was a problem, even
though we give each client a list of dos and don’ts. It eventually
closed but we were delayed by 2 weeks
