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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Obtaining a Mortgage with a new job
Has anyone recently gotten approved for a mortgage within a year of starting a new job? My DH is interviewing now for a new job but we would like to start house shopping next year. He is currently employed (with the same company for 6 years) but is looking for a change to make more money. Will the mortgage company care? Will this decision hurt us?
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Posted 7/24/07 7:33 PM  |
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Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
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Re: Obtaining a Mortgage with a new job
We got a mortgage and my husband only had a job for 2 months
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| Posted 7/24/07 7:43 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Obtaining a Mortgage with a new job
I got my first job as an attorney in November 2005 and we bought our house in April 2006 and started looking in Jan 2006. The bank will ask you for your pay stubs from your other job as well.
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| Posted 7/24/07 9:40 PM |
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leese
Sarge!
Member since 5/05 1965 total posts
Name:
Leese
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Re: Obtaining a Mortgage with a new job
He may need a letter from the previous job stating how many years he was there and the new job verifying the employment. It may be a pain in the butt, but you'll be able to do it.
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| Posted 7/24/07 9:54 PM |
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NJmom
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Member since 8/05 4987 total posts
Name:
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Re: Obtaining a Mortgage with a new job
as long as he is still in the same field and isn't making a career change they don't care at all. actually both times that we've bought a house my DH had just changed jobs and it made no difference to them.
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| Posted 7/24/07 10:54 PM |
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wcs3504
my boys
Member since 2/06 2506 total posts
Name:
Wanda (formerly cw0904 on LIW)
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Re: Obtaining a Mortgage with a new job
I started my job in 11/05 and we bought our home 2/07. DH did the same thing and we had no problems with getting our mortgage.
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| Posted 7/24/07 10:59 PM |
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seank80
Don't Taze My Dog Bro!!
Member since 5/07 2240 total posts
Name:
Sean
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Re: Obtaining a Mortgage with a new job
I switched jobs in the middle of the mortgage process. Actually as we were about to close. I had to get both written and verbal confirmations from both the new and old job. It was a bit of a pain but as long as I stayed in the same industry they did not have a problem with it.
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| Posted 7/25/07 7:49 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Obtaining a Mortgage with a new job
If you have been at the job less than two years, they will want proof of your employment at previous jobs
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| Posted 7/25/07 11:16 AM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: Obtaining a Mortgage with a new job
Posted by SweetTooth
If you have been at the job less than two years, they will want proof of your employment at previous jobs
Will a tax return or paystubs from the previous employer suffice? A few posters mentioned a letter and unfortuntely, with the type of job my DH has right now, they may not be overly cooperative with him once he leaves.
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| Posted 7/25/07 11:35 AM |
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seank80
Don't Taze My Dog Bro!!
Member since 5/07 2240 total posts
Name:
Sean
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Re: Obtaining a Mortgage with a new job
I needed both written and verbal from the old job. I was at my last job over 3 years. it was my first job in my career after college but they wanted both of those. It wasn't a point I could argue with them. We wouldn't have closed without it. I am honestly not sure how they would handle it if you were unable to supply them. I would ask a broker if you have one.
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| Posted 7/25/07 11:50 AM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: Obtaining a Mortgage with a new job
Posted by seank80
I needed both written and verbal from the old job. I was at my last job over 3 years. it was my first job in my career after college but they wanted both of those. It wasn't a point I could argue with them. We wouldn't have closed without it. I am honestly not sure how they would handle it if you were unable to supply them. I would ask a broker if you have one.
Thanks. I guess we will have to hope for the best. I would like to think they wouldn't try to screw us by not providing a letter but you just never know!
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| Posted 7/25/07 12:02 PM |
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NJmom
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Member since 8/05 4987 total posts
Name:
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Re: Obtaining a Mortgage with a new job
Posted by BlueDiamonds
Posted by SweetTooth
If you have been at the job less than two years, they will want proof of your employment at previous jobs
Will a tax return or paystubs from the previous employer suffice? A few posters mentioned a letter and unfortuntely, with the type of job my DH has right now, they may not be overly cooperative with him once he leaves.
i think how much documentation they require depends on your credit. my dh started a new job in march, we applied for a mortgage in april, and chase didn't require a single piece of documentation from us! it couldn't have been easier. they said it was because our credit was excellent. when we bought our townhouse a few years ago we went with a different lender and i think they just needed to see pay stubs from the previous job and i think maybe also the previous years w-2.
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| Posted 7/25/07 12:14 PM |
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