topic Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage? in Mortgage Loans

I've been in my job for 14 months... is that a show stopper for getting a mortgage?

Anonymous — Wed, 22 Jul 2015 03:17:09 GMT

Hi- I've been in a new job for 14 months and was doing something different before that. I have fair credit (meets FHA criteria) and can possibly put a large down (25% or more) into a house. Is the length of 24 months going to hinder my getting a mortgage? Thoughts??

Thanks!

Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage?

StartingOver10 — Wed, 22 Jul 2015 03:28:40 GMT

Can you tell us the job types? Sometimes the job can be catagorized as a similar job if the catagories are broad enough.

Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage?

Anonymous — Wed, 22 Jul 2015 03:44:03 GMT

I moved from working in sales leadership to a position as an exec for a nonprofit...

Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage?

StartingOver10 — Wed, 22 Jul 2015 03:51:14 GMT

@Anonymous wrote:
I moved from working in sales leadership to a position as an exec for a nonprofit...

hummm, I would discuss with a LO. Both positions sound like management type positions to me....

Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage?

Anonymous — Wed, 22 Jul 2015 13:11:04 GMT

A resident FHA expert may want to double check me here, but for conventional, wage earners only need 30 days on the job to qualify (base income) under agency guidelines. You DO need a two year work history, but you have two years of work history even if at different employers. You're fine in my opinion.

Re: I've been in my job for 14 months... is that a show stopper for getting a mortgage?

Anonymous — Wed, 22 Jul 2015 13:11:29 GMT

Also, why are you going FHA if you can do 25% down?