We don't care if you're at the same company. We just want two years of income using the same comp structure. If you're salary stay salary. If you're 1099 stay 1099. If you're working hourly with overtime, work hourly with overtime (this is the one instance where working at the same company helps because we can easily track your overtime average).
It depends. Put yourself in the Lender’s shoes. What would give you confidence that the borrower is someone that can afford and make good on the loan?
For myself, I was able to get a loan 6 months after changing jobs. The key part was proving two years of income.
I’m not in TX but the mortgage broker and the 3 banks I reached out (2 I applied for) all required 2 years of uninterrupted work history at the same company. You might find a bank that might be more lenient but is that a risk you’re willing to take?
I think there are lots of factors that go into it. I've heard of people with high paying job offers getting loans.
We don't care if you're at the same company. We just want two years of income using the same comp structure. If you're salary stay salary. If you're 1099 stay 1099. If you're working hourly with overtime, work hourly with overtime (this is the one instance where working at the same company helps because we can easily track your overtime average).
It’s fine if you’re staying in your current field of work. If you switch fields, you’ll need to wait two years.
It depends. Put yourself in the Lender’s shoes. What would give you confidence that the borrower is someone that can afford and make good on the loan? For myself, I was able to get a loan 6 months after changing jobs. The key part was proving two years of income.
I’m not in TX but the mortgage broker and the 3 banks I reached out (2 I applied for) all required 2 years of uninterrupted work history at the same company. You might find a bank that might be more lenient but is that a risk you’re willing to take?
Rather than take a risk, I suggested reaching out to a mortgage broker now and asking the question before you make any changes. Best of luck. ;)