Help, will we be pre-approved?? Advice please

[DhR2014]

Hi All. So I've been reading multiple threads but of course everyone has a different life story and financial history. So I am trying to gather advice and input from the community.

My husband and I want to look into purchasing a home this year, maybe Mid April 2014 to go through the pre-approval process. We are living rent free (thanks to my parents letting us live in one of their properties till we can purchase our own home) and have some debt.

• We have 11k in savings but plan to have $25k-30k for our downpayment this year (I have a strict budget!)
• Have 401k to borrow downpayment if needed, along stock Options and shares to sell if needed

Info on me:

• monthly income $5637
• At my present job for 2 years and 8 months
• FICO score of 774 equifax, 772 experian, 747 transunion
• Car Loan: $599 (I am in year 2 out of 5 for the car loan)
• Student loan: $294/monthly min. due; I owe $24,100 left from when I went to grad school 2 years ago
• Credit line  of $10,000 from 2 credit cards & 2 store cards, and I owe $96.00 (which of course I will pay off  easily)

Info on husband:

• monthly income $4250
• FICO score 768, 767 experian, 728 transunion
• Only debt is $5,029 on a credit card and his credit line limit is $30,300
• Here's my questionable area: ** Employeed with an electrical engineering firm for 2 years. He was then laid off the day before he flew to Florida for our wedding (how sucky was that!) in October 2013. He then received a job offer for the electrical utility company as an Engineer here in our city/county (JEA) in November 2013 and started the job Dec. 16, 2013. So this month he will be hitting 3 months at the current employer. IF we go for pre-approval next month its 4 months at his new job.

So one of my questions is, will my husband's employment pose an issue? He went from being an Electrical Engineer I at an Engineering firm in California for exactly 2 years to Electrical Engineer (associate engineer position title) at the electrical/utility company here in Florida. I'm honestly glad it worked out this way because we were debating for months if I were to move to California and quit my great job. But it just happened everything went into place at the right time.

Next question, should we wait a bit longer to go for pre-approval? Due to his employment.

Any advice and tips are appreciated!

[ShanetheMortgageMan]

He only had a 1 month job gap, and he's back on the job for at least 30 days, so it shouldn't be an issue at all as long as he's W-2'd at his current job.