Moving, changing jobs, buying a house

Dh and I are likely moving back to LI and will be looking to buy our first house. We have a down payment saved, great credit and the only debt we have are my student loans.
I won't be changing companies but will be changing jobs and there is a good possibility dh will be changing companies. How will a recent job change for him factor into getting a mortgage? He thinks we should get preapproved now but I am assuming there is fine print in a preapproval about changing jobs. Is this something we should worry about?

Moving, changing jobs, buying a house

It will likely impact the process, making it more difficult. The fact that you are remaining with that company is fine, they likely won't ask about any change in job title. They will definitely confirm employment with CURRENT employers after the preapproval process and during the actual closing process, I think they called on me about a month before closing, maybe less.

Re: Moving, changing jobs, buying a house

It's usually not an issue if the change if jobs is a change within the same field or a comparable position. But if you need a good mortgage loan officer to discuss this with, I can certainly recommend one. How a change in jobs is viewed will probably vary by lender, each having their own policies.

If you need real estate help in looking for your new home, or just have some questions, please don't hesitate to contact me! My cell is (516) 587-7618 or email is [email protected].

Re: Moving, changing jobs, buying a house

If he had a stable work history before that, and is staying in his industry, it shouldn't affect your mortgage application - especially if you're moving states.

DH and I had both been laid off from our jobs the year before we applied for our mortgage. We just had to write letters explaining what happened and how we're in stable jobs now. It wasn't an issue at all.

Moving, changing jobs, buying a house

My husband lost his job between contract signing and closing. He found another job for half the salary.
He had to give a statement about how the new job is the same field but he took a lower salary because of opportunity for advancement and promotions.
He gave a brief description of each job and signed it.
The mortgage company called each of our employers a few weeks before the closing to confirm we were working there.
His taking the lower salary actually gave us some sort of credit so it worked to our advantage.