Job change?

[Anonymous]

I’m hoping to obtain a mortgage in 6 months. I’ve been at my current job for a little over 4 years but I’m really thinking of job searching. I’m not happy in my current position and haven’t been in some time. How bad would it be if I changed jobs at this point in time? My credit is not fabulous. I will most likely qualify for an FHA loan as I’ll be under 640 (I have 5-10% to put down and expect my scores to be around 580-600). With scores in this ballpark should I hold off on a job search?

[MauiMan85297]

Absolutely hold off especially if credit is borderline, needing 2 years of employment is key but could overcome that with same field but it's much smoother for UW if they see 6 years on job instead of 6 months.

[emferrari]

Wait... as LONG as you are in the same job field, and no gaps on employment, no reduction in income or how you get paid it WILL NOT hurt you. I have just had the EXACT same situation recently.

I actually applied for the mortgage in December, changed jobs in January during the mortgage process and there were no issues. And I had some challenges on my credit too, including short sale.

Situations what you need to avoid:

Switching from a nursing job to a IT tech job

Switching from a cashier at a gas station to a rocket scientist (yes much better job but makes a difference)

Switching from a full time job to a part time job

Switching from a job that pays 75K an year to a job that pays 30K an year

Switching from a job that pays 75K an year to a job that pays 10K an year and 70K in commissions

Quitting your current job and search for other while unemployed

Makes sense?