Job change & FHA

[bassethoundmom]

I have an offer to change jobs within the same field but another company and a different but higher paying position.  I have been with my current company for 11 years.  I have heard that within the industry changes are okay but I already have enough issues on my credit so I don't want to compromise my application any further.  Any thoughts on if this will hurt an FHA application? Thanks 

[ShanetheMortgageMan]

As long as you are getting paid the same way (W-2'd to W-2'd, salary to salary, etc.), and since you are advancing in your career/wages, you shouldn't have any problems with the job change

[DallasLoanGuy]

I agree with Shane.

What was old job?

What is new job?

[bassethoundmom]

My current job is Director of Nursing for an Assisted Living, the new job would be Executive Director of a different assisted living company.  It would be approx. $12,000 annual increase in salary or more with bonuses but it would take me out of nursing into more of the business field, which they may consider a change?  I'm not sure?  I did work for this company before if that helps.

[DallasLoanGuy]

that's a promotion.

yer good to go!!

[Anonymous]

I would only watch one thing.  If your new position is has a lot of bonus pay, they may not allow you to count "bonus" pay unless you can verify it on past w-2/paystubs.  Even if you got bonuses at your last job they may only be willing to count your "base" pay towards DTI.  If you were in the middle of escrow or had offers out I would just make **bleep** sure what the underwriter would think of it.  It would mainly depend if the file was borderline already or very solid.  If it was borderline then be careful.