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I am looking to purchase a home but just switched jobs.

I was at my prior job for 3 years and just started a new job a few months ago. I have a substantial pay increase in the new position. How much of an issue is this going to cause? by kayla.pine725 from Means, Massachusetts. 17 days ago Reply


Steven Karp (stevek81)
#29 ranked lender in Massachusetts - 133 contributions

Hello Kayla...this should not be an issue at all....especially if you are staying in a similar field and or increasing your income....if your credit is good and have some money to put down, this should work.....any of us here would be happy to chat or email with you.....I am local.....

17 days ago
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Peter Costa (peter@easyappsmortgage.com)
#31 ranked lender in Massachusetts - 7 contributions

Hi Kayla, Congrats on the new job and increase in pay!! We work with this issue all the time and we can use your new income to qualify you. We would use your base pay for the new job as your income. The only difference here being that you are in this job for less than two years, we would not be a able to use your overtime and commissions if any.. Let me know if I can help in any way or further!-Peter Costa - President of Easy Apps Mortgage, Inc 617.290.2795

17 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,414 contributions

So long as you are in the same line of work and you are paid the same as your previous job, you should be ok.. Problems arise when you go from hourly or salary pay to commissions and/or bonus income.. in order to use commissions or bonus income, you must have been receiving them for the last 2 years.. so if you go from salary/hourly to commissions/bonus.. it's a problem,, you would need to wait 2 years.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

17 days ago
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