Job changes can work
A move within the same line of work can be straightforward. A new field, gap, variable pay, or probationary status may need more documentation.
Credit and Income
Do you need the same employer for two years?
No. Lenders usually evaluate the overall employment and income history, but that does not mean you must stay with one company for two years.
Education and military service
Relevant school, training, or military history may help document the path into current employment under applicable program rules.
Self-employment is different
Two years is commonly preferred, although some programs may consider a shorter history when prior related work and other requirements support it.
Retirement income
Eligible Social Security, pension, and retirement income can qualify without a current job when it is documented and expected to continue as required.
Written by Marta Lillard
25+ years of mortgage experience, explained in plain English.
Mortgage Broker · First Coast Mortgage Funding · NMLS #879436 · Licensed in Florida and Georgia
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