Can you Get a Mortgage with a New Job?

[Dave Johnson]

I've been renting all of my adult life, and am about to look into buying a house. Yesterday I picked up a mortgage application from Bank of America, and am going to take it back today with all of my information.

I feel that all of my information is good enough to guarantee my request of a 350k mortgage, but I had a question about my job. I know when applying for a mortgage you have to have had a job for the last 2 years. My last job I got laid off from, I had worked for 3 years. I had a job before that I had worked at for 5 years. I got laid off the 3 year job about 10 months ago, but got a new job 2 months later which I still have. Will this job history affect my ability to get the mortgage? Experiences would be appreciated, but please tell me if I have to worry or not. Thanks

[TomEason]

I've been renting all of my adult life, and am about to look into buying a house. Yesterday I picked up a mortgage application from Bank of America, and am going to take it back today with all of my information.

I feel that all of my information is good enough to guarantee my request of a 350k mortgage, but I had a question about my job. I know when applying for a mortgage you have to have had a job for the last 2 years. My last job I got laid off from, I had worked for 3 years. I had a job before that I had worked at for 5 years. I got laid off the 3 year job about 10 months ago, but got a new job 2 months later which I still have. Will this job history affect my ability to get the mortgage? Experiences would be appreciated, but please tell me if I have to worry or not. Thanks

Dave, you can get a mortgage. If BofA turns you down, go elsewhere! There are lots of mortgage lenders looking for qualified borrowers. Shop several lenders, and several loan (mortgage) brokers. As you know, it's a buyers' market, so you may enjoy this! Good luck.

[Maurice Bedard]

As longs as the new job is in the same field for at least two years of your most recent employment history. In addition, the new job must be permanent.