For a first mortgage, which is more important; length of employment with current employer or income earned?
Posted by
brian in
Employment HELP on
Mar 19th, 2010 |
2 responses
My wife and I plan on buying a house within a year but I am getting job offers that pay me a higher salary. Overall, how important is length of employment in the obtaining a first mortgage?
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Not very much as long as you stay in the same line of work and they employer will state it is likely to continue. The salary to pay the note is very important
In today’s market, you’ll have a hard time getting a loan without a year of history with your current employer. If you’re going to move jobs, do it right away and plan to buy a house in 6 months to a year. Even then, if you have several years now, you might get the house before you move.