iv been a receptionist for a little over a year now. i want to buy a house by Nov. if i change my job now ( same field ) could that affect the process of buying a house?
2006-08-18 07:00:59 · 14 answers · asked by All4Christ 4 in Business & Finance ➔ Careers & Employment
As long as the move is in the same field and either a lateral or step up it will not affect your financing. Good luck!
2006-08-18 07:07:52 · answer #1 · answered by Badkitty 7 · 1⤊ 0⤋
yes, but in your case, no. what lenders look for is continuity. since you're going into the same field than it's okay. were you to jump from being a receptionist to, let's say, restaurant manager then it would send up some flags. what most lenders like to see is two years continuous employment within the same field. not sure what you're going to do next but as long as it is in the same region or area of expertise then it won't matter. but to be on the safe side might want to hold off on the job until after the purchase. if you do it beforehand then the verification of employment will be just another paperwork that you'll have to go through with not one, but two employers. whatever idiot said that this would affect your credit score is a total moron. this has no impact on your score whatsoever.
2006-08-18 14:08:39 · answer #2 · answered by Anonymous · 1⤊ 0⤋
When I bought my house my husband had only just started his new job(about 3 months). He was collecting unemployment from being laid off for about 6 months before then. We had no problem. I think it will be ok. Do it now and the mortgage company can usually fudge it a little to say you've been there longer so you get the money.
2006-08-18 14:16:26 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Possibly. Creditors look at how long you've been employed at the same place, in addition to how much moola you make. Better to stick it out at the same place now and get a new job after you get the house or put off buying the house after you're at the new job a while.
Good luck!!
2006-08-18 14:07:01 · answer #4 · answered by zippythejessi 7 · 0⤊ 0⤋
If you are buying a house stay at your job until the loan is approved. Lenders don't look favorably at someone who has just changed jobs. They want to see a steady work history.
You can change jobs after the loan is closed.
2006-08-18 14:08:03 · answer #5 · answered by Tatochka 3 · 0⤊ 0⤋
Yes it could. Job stability is one of the things that creditors look for when financing a home.
You should wait until you have purchased the home to change jobs.
2006-08-18 14:08:07 · answer #6 · answered by nana4dakids 7 · 1⤊ 0⤋
Yes. Lenders like to see at least two years, sometimes more, with an employer to indicate a stable work history.
2006-08-18 14:06:38 · answer #7 · answered by misslabeled 7 · 0⤊ 0⤋
Duh, if your going to buy a house, you need to keep your job. That way you have money to pay for bills. They always ask how long you've been at your job when applying for credit. The longer the better. If you want to buy a house (hope your mate has cash flow), you may want to buy the house and then change jobs, unless now is the best time and you have a job lined up and you don't care if the buying house thing gets delayed.
2006-08-18 14:05:45 · answer #8 · answered by Anonymous · 0⤊ 5⤋
kinda yes because they run back ground checks for income and it checks I think for pass 6 months employment. So in other words it will affect your credit score.
2006-08-18 14:07:44 · answer #9 · answered by Jeff L 4 · 0⤊ 1⤋
Don't change your job until after your loan is approved.
2006-08-18 14:07:01 · answer #10 · answered by Klawed Klawson 5 · 0⤊ 0⤋