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What are our chances of qualifying for a new home with my husband only being at his current job 6 months?

My husband is a good hard worker and got a better offer from a different company and he took it, and that was 6 months ago. Now we are going to be transferred but I don't know if we can even qualify for a loan with him only being employed at his current job 6 months. I am not employed. Not sure our credit, I think its fair. This was sprung on us today. Thank you for any advice! (Fyi, we need to sell our current home too :-/) by StacyG from Hobbs, New Mexico. Mar 18th 2013 Reply


Eric Blossman NMLS 211144 (eblossman)
#117 ranked lender in Texas - 63 contributions

Hello Stacy,Yes, this question has been answered quite a few times correctly. The only thing I would add is that if he is at a new job, then you will only be able to take the salary as income and not the overtime nor bonus income. A good loan officer would be able to work out the qualification for you, and I suggest working with someone local.Good luck to you!

Mar 19th 2013
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Phil Hills (bphilhills)
#56 ranked lender in Washington - 13 contributions

As long as he is in the same line of work for two years you guy's are fine. Call me at 505-792-9313 and I would be happy to help you. Thanks, Phil Hills

Mar 18th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Whats banks look for is the same line of work. Banks see a change to career as an increase in risk. So if he changed the job and or location of the job as long as he didnt change the career you will be fine. There should be a 2 year history of that career before you apply. www HOMEMORTGAGEXPERT.com thanks Peter Savino

Mar 19th 2013
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Kelly Krauth (KKrauth)
#1 ranked lender in New Mexico - 28 contributions

Since he is tranferring jobs and most likely the same career, this will not be a worry for you. Time goes fast and I would recommend getting prequalified NOW to make sure there are no surprises so you can move assured that you will be moving to a new career and new home without reservation. It's as easy as completing this simple on-line application (below). Cut and Paste the link in your browser. I provide financing for many homeowners in Hobbs and am New Mexico's Favorite Lender! call me 505-286-3071 or 505-238-1218.I look forward to being YOUR favorite lender too!https://homeloans.securesites.com/standard.html?custid=6705&b=6705

Mar 19th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,232 contributions

You should be okay as long as there is a good reason for the changes and all the other details of your application are acceptable

Mar 19th 2013
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Thank you so much! What a relief! He has been in the same field for 9 years. We are moving to Lubbock TX. And will be selling our home in Hobbs. We need to do this by the middle of APRIL and we are a little overwhelmed because there is a lot to do. Do you think its possible to buy and sell in that short a time? Or maybe we will end up commuting or even renting until its all done. He says no way to renting though.

Mar 19th 2013
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Kelly Krauth (KKrauth)
#1 ranked lender in New Mexico - 28 contributions

Just get yourself a good, qualified Realtor to assist you with this as soon as possible.

Mar 19th 2013
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JOE GARRETT (www.Texaslowcostmortgage.com)
#46 ranked lender in Texas - 18 contributions

You should be fine. The longest part of the process will probably be selling your current home unless you can qualify with both payments. www.Texaslowcostmortgage.com also get us in touch with the realtor you use to sell your current home (or we can help with that b/c i know a few good ones there) this will all speed up the process.

Mar 19th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#28 ranked lender in New York - 2,238 contributions

As long as he has been employed for the last 2 years you will most likely qualify for FHA. If you are looking for a conventional loan they would want the job history to be in the same field, if it is you will be fine as well. Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Mar 19th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,232 contributions

Mid-April is possible but all the pieces will have to fll into place. Good luck with the transition!

Mar 19th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Same line of work, similar salary or increased, 30 days of pay stub. And of course, old house sold, or rented (which may hurt debt ratio).

Mar 19th 2013
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Jason Vondrak (jvondrak)
#211 ranked lender in California - 1,741 contributions

Like others have stated - as long as he has been in the same line of work for at least two years, you should be able to qualify for a home loan.

Mar 19th 2013
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Nevin Williams (NevinWilliams)
#42 ranked lender in North Carolina - 108 contributions

If it is the same line of work that he has had for 2 years + and at least a 5% down payment then conventional financing may be the first loan option. If he has less than two years in that line of work - VA and FHA underwriting guidelines do not impose a minimum length of time in the same line of work so those two, if he qualifies will likely be the loans offered.

Mar 19th 2013
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George Dokos (georgedokos@movementmortgage)
#58 ranked lender in Virginia - 25 contributions

If your husband will be in the same line of work you should be all set to use his new employer. The key will be your credit, don't be afraid to look at it. There are several companies that you can check your scores with, ie: experian , Transunion, equifax . Once you know how your credit looks you can begin the pre approval process with a lender. Good Luck ! George

Mar 19th 2013
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So I just had a realtor come check out the house and she agreed we have a lot of work to do before we can sell. New roof and a yard. It's a mobile home and was very poorly constructed (its very nice, but just made of cheap material). Only 6 years old but falling apart all over. Need a new door, New trim inside, new master bath. She thinks we could possibly qualify for a second house payment. What do you all think? My husband makes about 8,700 on salary, before tax, a month. We only have a truck payment, 600$ and this house payment is 890$ and no credit cards. Do you think we would qualify for a new home if we don't sell this one right away? I will check our credit score asap.

Mar 19th 2013
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So I just had a realtor come check out the house and she agreed we have a lot of work to do before we can sell. New roof and a yard. It's a mobile home and was very poorly constructed. Only 6 years old but falling apart all over. Need a new door, New trim inside, new master bath. She thinks we could possibly qualify for a second house payment. What do you all think? My husband makes about 8,700 salary, before tax, a month. We only have a truck payment, 600$ and this house payment is 890$ a month. Do credit cards. Do you think we would qualify for a new home if we don't sell this one right away? I will check our credit score asap.

Mar 19th 2013
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Eric Blossman NMLS 211144 (eblossman)
#117 ranked lender in Texas - 63 contributions

Hello Stacy, Yes it sounds like you are fine on your ratios, so as long as your credit score is ok you will be fine. I would ask around for some referrals in your area and put in an application with a local lender.Good luck.

Mar 19th 2013
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Andrew Alfonso (CashCow)
#45 ranked lender in Florida - 271 contributions

Same line of Work, great chance. Not the same line of work? --- 50/50 chance.

Mar 19th 2013
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I just checked mine and my husbands credit score and it was bad. With everything else being good, but with a bad score, this means we more than likely won't get approved? I was shocked it was so low.

Mar 19th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,232 contributions

620 - 640 is generally about the lowest that is relatively easily approved. You may be better off to work on improving it before applying, score has a big impact on your rate. Email me at: pdumouchel@primelending.com and I'll send you some basic recommendations about what you can do to improve your score. Some will make a big difference in as little as 30 days.

Mar 19th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

You may want to consider a lease with the option to purchase, at your new location.

Mar 19th 2013
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Chris Caporiccio (chris.caporiccio@wellsfargo.com)
#16 ranked lender in New Hampshire - 31 contributions

Thank you Stacey, In most cases this situation is not an issue as long as the job changes are seamless and all changees can be documented. The biggest issue I run into when this situation arises is Sefl-Emplyment scenarios. As long as this is not the case I feel good about your options. Give me a call to discuss how you and your husband can structure mortgage financing to enable you to buy a home. 603-222-3932

Nov 4th 2013
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MIKE CONVIN (mconvin)
#5 ranked lender in Delaware - 202 contributions

hi Stacy: since we have no overlays on our loan programs and offer flexible underwriting, with letter of explanations would be strong along with entire scenario. If you do not sell your home etc will u be renting this property out? Do you have any reserves (401K, cash) etc if I may ask? Mike (703 505 5300)..lending nationwide....NMLS 754875. mconvin@banchomeloans.com

Nov 18th 2013
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Christina Hayes (CreditRepairExpert)
#8 ranked lender in Tennessee - 68 contributions

Stacy; Congrats to you and your hubby on the new job! As others have mentioned if he is in the same line of work for 2 years you will be fine. When you say (not sure about your credit) that is worrysome. Do you know what your scores are? And I don't mean those from Credit Karma or Credit Sesame.

Mar 15th 2016
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Corey Vandenberg (Coreyv)
#66 ranked lender in Indiana - 27 contributions

Moving? You need more home mortgage loan options than anyone! I would love to help...

Mar 8th 2018
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