Before you change jobs, make sure you know the possible consequences on your ability to qualify for a home mortgage.
If the job change is in a different field, or if you will be self-employed, or if your compensation is variable, you could find it more difficult to qualify for a home loan.
But even if you will be in the same field and be an employee who receives a W-2, there are still a few things you’ll want to know.
In my article, How will a job change affect my ability to qualify for a home loan?, I explain some obstacles you might face with a mortgage when changing jobs.
I am often asked by borrowers whether changing jobs will affect their ability to qualify for a home loan. Whenever you are in the process of buying a home or contemplating buying in the future it is wise to consider the effect of any job changes you may be considering. With proper planning you may be able to avoid putting yourself in a bad position.
My team and I help clients overcome obstacles in obtaining a home mortgage. Sometimes these obstacles include a job change.
You may be thinking about buying your first home, selling your current home and buying another home, buying vacation property, or refinancing a home. If you are thinking about making a job change, and thinking about making any changes regarding a mortgage, we can help you position yourself for the best outcome.
We look forward to serving you, and helping you make a career change while also having the best options for purchasing or refinancing a home.