I have been in my job for almost 8 years and I want to start the process to buy a house in January. Problem is I hate my job and want to look for a new job. Will starting a new job now impact my ability to purchase a house?|||Starting a new job does not matter at all as long as your employer can confirm you work there. There are exceptions, for example if you are on a probabtion period or if the job is casual employment. To can get around this you could apply for a low doc home loan which is basically a statment saying how much money you earn and that you can pay the loan back. The interest rate is very slightly higher for these. This is what we went for as my partner works contract.|||Changing jobs is usually not a problem as long as your new job is in the same field. They do not like to see you go from being lets say a nurse for 8yrs, to a new realtor. Nurse to nurse is fine.|||Never change jobs right as you are starting the house hunt.
Who knows what will impact tomorrows markets but I have a feeling one better have high scores and immaculate credit/job histories.|||I think that as long as you can prove your income and have a good credit history then it should be fine!
Good luck house hunting!|||putting the application credibility aside, i am more concern for you if you will be happy with the new job. taking up a house loan is a long term commitment and it%26#039;s going to weigh on your shoulder heavily. this is esp. so as it came with few assumptions : that is you are able to finance the long loan with a stable income and of all, good health. you have to think carefully along all these before getting a house. take care.|||If your new job is salaried, it shouldn%26#039;t be a problem. Talk with a trusted Loan officer for some sound advice and to see your whole financial picture: your credit scores, down payment, etc... http://www.choicerealestate.net/montgome...|||If you have been at a job 8 years, loan company%26#039;s will have no issue. If you go to apply for a loan and have been on the job for two weeks, you may have a hard time getting a loan. Would you make a loan to someone for many years without some kind of job history?
Put yourself in the shoes of the loan officer...|||Your credit will be more of an issue than how long you have been on the job, but I would suggest waiting until after you get into the new house to start the process of a new job. You might want to consider the upcoming holiday season, what your commute might look like and what would happen if you got in with a firm where you didn%26#039;t like the people you are working for. A new job and a move are not a good combination. Ponder it some more before you take that leap.
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