We have many people apply for mortgages that have recently changed jobs.
Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage…
The underwriter will want to see your first paycheck at the new job at a minimum, and often they will want to see your first 30 days of paychecks. Sometimes it’s possible for us to do a Verification of Employment in lieu of.
The underwriter isn’t trying to make your life difficult by asking for your new paychecks. …This is a common guideline in the mortgage industry.
There is one circumstance where you can change jobs and not have to supply your new paycheck prior to approval…
If you continue to work for the same company, but you are just changing jobs within that company then you won’t have to produce a new paycheck.
If you have more questions on this – don’t hesitate to give us a call or shoot us an email!
Have a good day today! …and thanks for reading.
Brett
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