Can Changing Jobs Prevent You From Getting a Mortgage?
Taking on a new job can be exciting. But if getting a new gig happens to coincide with your plans to buy a home, it can affect your ability to get a mortgage—even if you make more money in your new job.
When you apply for a home loan, lenders take a deep dive into your financial history, including your current employment, to see if you can handle monthly mortgage payments.
Changing jobs while applying for a mortgage is not a deal breaker, but it can introduce a level of uncertainty that could make lenders tread more cautiously.
HERE are some factors to think about when considering taking on new employment while shopping for a home.