Mortgage Question : New Jobs

[Anonymous]

Hi everyone,

I need some advice.  We have recently applied for a mortgage loan (100% Rural Development) and were told by the bank that has done the pre-approval that the application looks good.  However, I still have some concerns.  Firstly, we have just started our current jobs in January of this year, and they are a lot more prestigious than the jobs that we have held previously.  My job, for example, is as an accountant, which I recently finished my degree for.  Our tax returns for the last couple of years reflect income from jobs that have not paid very well at all.  We also recently moved to the area last year, and I just had a baby, so there were a few months that our income was affected (for obvious reasons).  And like I mentioned, the jobs did not pay very well at all that we did have. 

My residential lender seems to think that with proper explanations for these things that there should be no problem.  However, the worry will be forever there.  I know that we qualify for quite a bit now with our current jobs, but I am worried that with the previous tax returns and w-2s, even though they don't reflect current income, that it will be an issue.  Can someone please offer me advice?  Thank you!

[bbb3601]

had a similar situation. for us as long as you are working in the field you went to school for all should be good. I provided a copy of my transcripts which was used for job time, and a degree showing i graduated. only kicker is you cant be on probabtion......most are 90 days so you should be good on hat to. as always ymmv is you spouse in the same field as before?

[Anonymous]

Hi there, thanks for the quick response!

Yes, I have a degree in accounting, whereas when I was working previously, I was a pharmacy technician.  I have a copy of my degree available for the loan originator, should the question be asked (but of course, maybe I should just furnish a copy to them).  My husband is a cook, and he has been doing that for the last 20 years of his life. 

Thank you for the reassurance!  I suppose that with the added stress of having recently moved to the area, having a (2nd) child, and buying a house has gotten to me finally! 

And as far as probationary period is concerned, I have already exceeded that since I started at the beginning of January, and there has already been verification through meeting minutes that I will be getting a raise in July, so I guess they plan on keeping me!  Thanks again!