We have many people apply for mortgages that have recently changed jobs.
Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage…
1) If you are getting transferred from one location to another, but with the same company you don’t need to do anything. This is fine because you have the same employer.
2) Generally, the underwriter will want to see your first paycheck at the new job at a minimum, and often they will want to see your first 30 days of paychecks. However, we have also been able to use a Verification of Employment to establish the new terms on occasion.
3) Sometimes it can create a “catch-22” if you are moving here from elsewhere and starting a new job at a new company. You can’t get the loan until you get some paystubs at the new job, but you have to move here and live here to work here. Sometimes temporary housing is required in these circumstances.
That’s it for today!
Thanks for reading!
Brett
Get Pre Approved For A Loan Here
My Previous Blog
I had this situation come up again last week, and I wanted to address it…
One of the most important things you will have to do when you apply for…
I wanted to remind you that we have a 2% to 5% downpayment and closing…
If you receive money from the State or a County sponsored organization for providing foster…
Do you have investment property, and would like to pull cash out of your property?…
I wanted you to know about a mortgage program that doesn’t require any income documentation…
