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Planning for the job changes
October 5th, 2017 11:06 PM
I know for some people it is simply a job change. But it may cause some issues when you try to purchase a property, especially when you try to have a jumbo loan.

Normally for the Jumbo loan lenders, they will require 6 months of employment history. So if you want to purchase a property after the job change, then better to wait another 6 months.

I have one borrower who just changed job. And other than w2 employee, he gets 1099 instead. So for self employment borrowers, lender will need 2 years history. So please have some planning when you plan to purchase a property. And it happened last year, one of my refinance failed. The main reason was the husband got laid off. Even he found a job after one month, we still could not do the loan since the lender needs 6 months history.

Still continue the reading today. I finished 73 pages of "I am Malala" so far. A little bit ahead of schedule.

Posted in:General
Posted by Eric Fang on October 5th, 2017 11:06 PMPost a Comment

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