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Would starting a new job ruin my chances to get a mortgage?

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Anonymous
Not applicable

Would starting a new job ruin my chances to get a mortgage?

Hi. I recently was offered a new job with a different company that pays more. I  intend to try to get approved for a mortgage this month, but not sure if changing jobs will ruin my chances. The job I am currently at I've worked there for 2 years. I have been previously turned down before for not having enough work history( 2 years). If I take this new job would I have to wait another two years or so to get approved.
Message 1 of 5
4 REPLIES 4
Jazzzy
Valued Contributor

Re: Would starting a new job ruin my chances to get a mortgage?

Hi southerngirl, and welcome to the forums.

 

Is the new job in the same line of work? If so, you might be OK.

 

Have you talked with a loan officer at all about it?

Message 2 of 5
Regular Contributor

Re: Would starting a new job ruin my chances to get a mortgage?

I would definitely check with your loan officer before accepting the new position.

 

However, my husband was with his previous employer for 5 years and started a new job just a week ago in the same line of work but for a substantial increase. For us it was worth it, we are in the process of building a home so we spoke to our loan officer and she said it shouldn't be a problem for the underwriter since it is for more money and in the same line of work. We are hoping it won't be a issue.

 

Good luck and congratulations on the job offer!

Message 3 of 5
Anonymous
Not applicable

Re: Would starting a new job ruin my chances to get a mortgage?

Same line of work is all you need, but make sure it is truly considered same line of work.  I have seen people take similiar postions but in a differnet industry and get the deal killed...For example, a office manager for a construction company may not be considered same line of work as getting hired as an office manager in a medical office.  Also, Going from being a office manager in one medical company to being an accountant in a medical company might not be considered same field.  It all depends upon how strict the underwriter wants to be.  BUT, as long as you are doing the same type position and in the same field, there should be no problem.
Message 4 of 5
Anonymous
Not applicable

Re: Would starting a new job ruin my chances to get a mortgage?

Yes it is the same line of work. My LO said the same that it wouldn't be a problem. This is my third time trying to get approved for a mortgage and in the past I've been given wrong information by the loan officer. Of course I'm going to take the job and all I can do is hope for the best. Thank you all for your information it was very helpful. .
Message 5 of 5
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