Do I need two years employment to get a loan?
Working as a computer analyst now and I plan to switch to a career in sales. If I pursue this do I still need two years at the same company? What if I change companies but have the same income? I'm also looking for a lender who can finance land. I'm buying four lots and have a mobile home to install on the site. by rick152 from Chandler, Arizona. Feb 7th 2023
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Switch jobs is no big deal if you are paid hourly or salary. f you have variable pay, or like commission, then you need to be at that job two years so that we can average the income. I lend in MN, IA, ND, SD, and WI. I can be found at MNBestrates.com Cambria Mortgage, NMLS 274132
Dave Skow (daveskow)
#15 ranked lender in Washington - 453 contributions
1) your job change is likely OK 2) lenders will only be able to use any base income you earn and not any commission income 3) 2 yrs of commission income history is needed in order to use comm income 4) not many lenders do land loans - you might check with the smaller credit unions / bank close to the area you want to buy / build 5) most lenders will not lend on manufactured / mobile home construction - you will liekly need to do this with other funds
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