Will a new job affect your posibilites of getting a new home loan?

My boyfriend wants to buy a home for us and he just got a new job offer with better pay and benefits. He has been at his previous job for 8 years and will probably be accepting this new offer very soon. Will this affect his possibilities of getting or securing a home loan?

Responses:

It depends. Lenders look for a 2 year employment history and as long as that 2 year history is within the same or a similar line of work it does not matter. Also, if you new job is in the same or similar line of work and you are making money then obviously that is even better. If you sold widgets for ABC company making $50k per year and then you started selling widgets for XYZ company making $60K per year then you are actually in better shape than if you had NOT taken the new job. You are doing the same thing and making more money which is great in the lenders eyes. The only big no no's are: 1 going into a completly different line of work. Like if you worked in real estate and then all of the sudden you became a scientist. 2 Huge back tracking if you were a CEO making millions and then all of the sudden you are working fast food and the bigest no no of all is less than 2 years self employed. This one makes getting a loan really hard because your new business has no track record! So if you are in the same or similar line of work you will be fine
Typically, if the job is in the same type of field, it will have no effect. Especially, if he had that amount of time at the last job and he has logical reasons for switching. Good luck!
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It will not affect him, he shows stability by staying at his previous job 8 years. Go get the new job and new house!
No: if his new job is the same position at a different company or in the same industry. Yes: if he is going from W2 pay to self - employed 1099'd and Yes if it a entirely different industry. normally you need 2 to 3 years stability in a job industry or position
It may, part of qualifying is having longevity, Showing that you are responsible enough to keep a job. Might be better to change jobs after the house is bought

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Will a new job affect your posibilites of getting a new home loan?