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Good credit score but in-between jobs?

I am trying to get a mortgage, however, I just accepted a job offer, and left my old job at the end of August. Is it possible to get a loan? by gregory.aa591 from Liberty, Maine. Sep 14th 2015 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

More info is needed, but in general, yes.. you should be able to get a loan if you have accepted a job with someone else.. the lender is going to require that you actually receive at least 1 pay check before they will fund a new loan for you and your work must be in the same field as your previous employment.. If your changing careers or changing how your paid (commissions vs salary or hourly) then you could have a problem. If you want to know for sure, you should try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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 NMLS# 226347

Sep 14th 2015
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Brendan Fontaine (brendan.fontaine)
#2 ranked lender in Maine - 89 contributions

Call me Gregory. I am in Auburn, Maine. 207-272-9949Brendan Fontaine NMLS 102571 | Branch ManagerOne Great Falls Plaza Suite 3C | Auburn, ME 04210Phone: 207.619.4179 | Fax: 207.370.6864www.bestmainehomeloans.com | bfontaine@primeres.com

Sep 14th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 598 contributions

Most lenders you should be fine with. They want to see a two year work history to show stability of income, starting a new job you will need to have pay stub by closing I would guess.

Sep 14th 2015
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David Hosterman NMLS 220562 (dhosterman)
#13 ranked lender in Colorado - 26 contributions

This should be fine. Typically Fannie Mae wants one paystub covering 80 hours and FHA wants a month worth of paystubs. Both prefer the job to be in the same line of work.

Sep 14th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

All your standard loans require you to document income sufficient enough to safely afford the loan payment. If you are not currently working, that sound like a problem. But, once you start your new job, as long as there is no gap between jobs of more than 6 months, you will be able to use the new job as qualifying income once you actually start the job and generally are able to provide at least 30-days worth of pay stubs from the new job. This also assumes an hourly or salary new job. If it is commission, tips, or other variable types of income, you may need to have the job two-years. For loans in WI, MN, and SD, visit me at www.WI-MortgageBroker.com

Sep 16th 2015
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