Does it matter how long you've been working when you apply for a home loan?
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I just got a job, like days ago and want to apply for a home loan? Is that looked at by the mortgage company, or does it not matter?
Does it matter how long you've been working when you apply for a home loan?It is part of the equation, but there is absolutely no requirement that you be on a job for 12 months or anything like that before credit will be given for income. Anyone saying otherwise is either inexperienced or misinformed.
I have personally closed home purchases for individuals fresh out of college, working at their first professional job based on the offer letter from the employer and the first pay stub. The list of conforming lenders who follow this policy is extensive.
Find yourself a good mortgage broker and let them get to work on your behalf.
Does it matter how long you've been working when you apply for a home loan?No it does not.
Does it matter how long you've been working when you apply for a home loan?Work history could be an element to your overall credit history. It won't matter much especially if you are still in the same line of business, but with a different employer.
Does it matter how long you've been working when you apply for a home loan?Work history will definitely be a factor for the lender. Many lenders will not include any income in their decision from a job less than 12 months old.
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