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Can i get a mortgage with new job in the same field of work?

I have only had this job for 7 months, but I have been in this field for more than 13 years. There was a gap of about 11 months before I ladned this job and I had collected unemployemtn by joepenone812 from Lathrop, Missouri. Mar 28th 2014 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

with a good letter of explanation to the lender, you should be ok.. the only difference would be if your income type was changed.. for example, you were paid salary / hourly at your previous employment, but are now paid commissions.. then you might have a problem.. but if you are getting paid the same as you did previously, you should be ok.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 28th 2014
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Mike Silkworth (msilkw_195_870)
#29 ranked lender in Michigan - 531 contributions

Most likely yes. In other words your situation doesn't rule you out. A Lender would need to consider other factors.

Mar 28th 2014
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John Moran (SimplifyMortgage)
#7 ranked lender in Arizona - 663 contributions

Assuming you are otherwise qualified, you shouldn't have trouble obtaining financing with a letter of explanation for the employment gap. It may get a little tricky if you are a commissioned or heavily bonused employee because underwriters are looking for a recent two year history on those types of income. If you are salaried, it is much easier to predict your future income and therefore more likely to be acceptable to the underwriter. Best of luck!

Mar 28th 2014
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Your stable position at the new job, plus a good letter of explanation should do the trick.

Mar 28th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

You shouldn't have a problem with a letter of explanation as long as the way you get paid is the same.

Mar 28th 2014
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

As long as you meet the other qualifications requirements (such as income, credit, down payment), you should not have a problem qualifying based on your current employment situation. Lenders will require two recent pay stubs and as long as it is in the same line of work, 2 years at the same position is not required. Are you currently a salaried, W-2 employee? That will also make it easier to qualify as oppose to being a 1099 commissioned based employee.

Mar 28th 2014
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John Schweer (johnschweer)
#9 ranked lender in Missouri - 163 contributions

Short answer yes, I am located downtown Kansas City by the spring center feel free to call and discuss your situation or you could stop in if you prefer 816-412-3568

Mar 28th 2014
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Bartolomeo Castelli (BartCastelli)
#33 ranked lender in Missouri - 1,056 contributions

Our current economic situation has forced a number of lenders to rethink their viewpoints on what has occurred with people and their job history. I letter of explanation would be needed, but if it was because of economic reasons, and you have found work as you have said in the same industry, you certainly are on the right path to qualify (and succeed) on getting a mortgage. Visit me at www.CallTheMoneyMan.com or call my office at 314-744-7806 as I am a licensed mortgage broker here in Missouri.

Mar 28th 2014
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David Drakeford (david_drakeford)
#0 ranked lender in California - 63 contributions

More than likely yes especially if you are w2. Give us a call and we'd love to assist. 800-446-9043 ext 801

Mar 28th 2014
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Pete Bass (PeteBass)
#30 ranked lender in Connecticut - 476 contributions

Yes, as long as you income, asset, and credit qualify.

Mar 29th 2014
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