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Friday, January 27, 2012

Job Hopping and Qualifing for a New Home Loan

Besides being able to pay your bills on time, mortgage lenders want to see steady employment.  This translates into consistency, something banks like.

Lenders want to know that the income you bring in is
    - Consistent and,
    - Expected to continue into the foreseeable future

The application to this advice -
    - Don't jump from job to job before applying for a loan.
    - If you have to change employers, keep it in the same field.
    - A career change will lead to problems
    - Wait until you've closed your mortgage before jumping ship

1 comment:

Tom Kolius said...

I know Sue and Ken....they are absolutely the consummate Real Estate Team....none better!!