Starting a new job does not automatically disqualify an individual from obtaining a mortgage, but it can signal concerns for lenders. Lenders prioritize employment history and typically prefer candidates with consistent income over the previous two years from the same employer or industry. Job changes can influence mortgage applications; for instance, transitioning within the same field with a pay increase is generally favorable. In contrast, changing industries may require additional documentation for proof of income stability. Probationary employment periods may also delay mortgage approvals.
When you apply for a mortgage, lenders want to know you'll be able to make your monthly payments. One way they assess this is by looking at your employment history.
Changing jobs doesn't automatically hurt your chances, but lenders will want reassurance that your new income is stable and ongoing.
If you switched to a new job in the same field, especially with a pay increase, most lenders won't see it as a problem.
If you've changed industries entirely, lenders may want more documentation to understand the transition.
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