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I am looking to purchasing a home within the next year. I was thinking about quitting my current job and starting with another company that pays more. Will the affect me getting qualified?

by nikkikirk587 from Huntington Beach, California. Jun 27th 2018 Reply


Esta Hoffman (esta@estaglen.com)
#333 ranked lender in California - 33 contributions

So long as you are in the same line of work and a full time job, this should only help you!

Jun 27th 2018
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RICK DEEN (RICK.DEEN)
#299 ranked lender in California - 2 contributions

As long it is the same line of work and you will still be getting a w2. If you are switching to a 1099 and or self employed, that may be a problem.

Jun 27th 2018
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,414 contributions

More info needed, but in general, if you are in the same line of work and you are getting paid the same way (hourly, salary, commissions, bonuses).. then it shouldn't matter.. The problem comes into play when you are salary or hourly and you switch to commissions or bonuses.. For that income to be counted, you must be receiving it for at least the last 2 years.. In all reality, a lot can change in a year.. housing prices rise, interest rates can rise,, a etc.. There are a lot of programs out there that can help with down payment,,, so you might want to get with a loan officer now and let them look at your complete loan profile.. just to see if it's better to buy now or later.. also, it allows the mortgage pro to identify any potential problems that might come up.. identifying them early give you an opportunity to fix them now.. 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

Jun 27th 2018
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,754 contributions

The quick answer is probably not. The bigger answer is maybe. Assuming the pay is hourly or salary, you will be fine. If the pay is commission, tips, or otherwise variable, then you'll need to be at that position for two-years.

Jun 28th 2018
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