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Established Member
OHWWCB
Posts: 131
Registered: ‎07-02-2014

I just moved and started a new job, will that hurt my approval chances?

I just moved back to my hometown to start a new job and after living all over the country for work for years, I plan on settling and buying a house. Will the fact that I've only had the job and lived in my residence for one year hinder my chances at getting approved for a mortgage? I was planning on trying to buy a house next year when my lease is up.

 

Thanks!


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Valued Contributor
ezdriver
Posts: 1,440
Registered: ‎08-24-2013

Re: I just moved and started a new job, will that hurt my approval chances?

Your housing situation is not a problem. Your employment could be. Generally lenders like to see two years on the same job and more years in the same field if a job change occured. We cannot answer your question without knowing more about your employment.



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Established Member
OHWWCB
Posts: 131
Registered: ‎07-02-2014

Re: I just moved and started a new job, will that hurt my approval chances?

It just occured to me that this might be an issue as I was with my last employer for 12 years. I started my current job in May of this year and was looking to begin the mortgage process in Spring of 2014 originally and that wouldn't even be a year.


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Valued Contributor
ezdriver
Posts: 1,440
Registered: ‎08-24-2013

Re: I just moved and started a new job, will that hurt my approval chances?


OHWWCB wrote:

It just occured to me that this might be an issue as I was with my last employer for 12 years. I started my current job in May of this year and was looking to begin the mortgage process in Spring of 2014 originally and that wouldn't even be a year.


So is the new job in the same field or a brand new field? That is ver improtant as my previous post suggested. If you want a good feedback, you need to provide details.



Starting Score: 618
Scores on 10/9/13: EFX 652, XPN 669, TUC 662
Scores on 3/17/14: EFX 649, XPN 677, TUC 681
Goal Score: 720 ALL


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