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within how many months of trying to get a mortgage can i leave my job?

what is the safe zone - 6 months out? by kitteryn2794466 from Isabel, South Dakota. Jan 15th 2015 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,576 contributions

If you have been out of work for 6 months or more, you must be at your new job at least 6 months for hourly and salary employees. If you are talking about leaving a job after closing, that doesn't matter. Once the loan is closed, we don't care. Lending in SD, MN, and WI - visit www.MortgagesUnlimited.biz

Jan 15th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Once your loan has closed, the lender cannot change the terms because you no longer are at the same employer.. but you must be employed at the time of closing, and your lender will call your employer to verify this before funding a loan. If you are thinking about changing employers, but you are remaining in the same field of work, and how you get paid (W2, salary, hourly, commissions, etc.) is the same as your past employer, then once you have 30 days of pay stubs, you should be ok.. However if your changing careers, or your going from W2, salary, hourly to commissions or self employed, then you will have to wait 2 years before you can get approved.. it's best to discuss your intentions with your loan officer.. he can walk you through the hurdles and guide you to the right way to go about getting your loan without any hiccups.. 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

Jan 15th 2015
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Colby Neal (ScottsdaleInsurance)
#110 ranked lender in Arizona - 71 contributions

The day after closing you can do whatever you'd like. Prior to closing Do Not make any financial or career changes.

Jan 15th 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#2 ranked lender in New York - 2,237 contributions

If you were trying it doesn't matter. If you got a mortgage and then left your job it doesn't matter either.

Jan 15th 2015
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

Joe, and all the rest said it.

Jan 15th 2015
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Chris Neuswanger (mtnmortgageguy)
#94 ranked lender in Colorado - 84 contributions

Your lender will likely call your employer the day before (or in some cases the day of) closing to verify you are still employed and will ask about your likely continued employment. I once was in the middle of a 10:00am closing when my cell phone started going crazy with voice mails, texts and emails telling me to call the lender immediately and simultaneously the receptionist came in and said I had a very urgent call from the lender. The lender had called the borrowers employer and found out he had quit his job the day before and he did not tell me. We had to cancel the closing until he had 30-days of paystubs on his new job (which fortunately he had one lined up). That said, once you get the loan you can quit the following day, just remember you still have to come up with the money for those monthly payments. Lenders go nuts if you are late on your fist couple of loan payments.

Jan 16th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

You can leave your job the day after closing or after the loan funds on a refinance.

Jan 17th 2015
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