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My husband recently changed jobs. Will this hurt us trying to purchase a home?

My husband has been employed for 10 years with the same company, but recently took another job bringing home $1500 more a month. Will this hurt us trying to get approved for a loan?
  • February 27 - US
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Answers (6)

As long as the job is in a similar field as his previous job he should be fine. Also, if he happened to switch the a salary pay to a commission (or vice versa) this can cause some problems. On the other hand, if his type of salary payment remained the same there shouldn't be a problem. Either way, the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • February 28
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I don't see a problem with this. I'm currently working with clients who *both* just changed jobs to move to the area. They just needed to provide their recent pay stubs / offer letter and the lender had them each write a letter of explanation. Since it was the same line of work, the lenders have had no concerns about this.
  • February 27
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No issues as long as it's either a straight salary or hourly. If commissioned or bonus, a 2 year history will need to be established (meaning he got it at his old job too)
  • February 27
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Yes, it's in the same field, just with a different company. He went straight from the old job to his new job.
  • February 27
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Normally we will need to see 30 days of pay and/or an offer letter . You should be fine.


Good luck!
Scott
  • February 27
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 How long between old job and new job and is he employed in the same field. This should not be a problem for a mortgage approval especially since he is making more money.
  • February 27
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