Posted on: 13th Aug, 2009 07:59 pm
I am about to close on new home mortgage. I am going to change my job field and switch over to new job. Will there be any problem for this job change just before closing
Hi lovely!
Welcome to forums!
A lender will check your employment history before giving you a loan. The underwriter will want to see that your moves have been for advancement and that there are not long periods of unemployment in between the change of jobs. If you can prove that the change of job was for your advancement, then I don't think it would affect your closing in any way.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A lender will check your employment history before giving you a loan. The underwriter will want to see that your moves have been for advancement and that there are not long periods of unemployment in between the change of jobs. If you can prove that the change of job was for your advancement, then I don't think it would affect your closing in any way.
Feel free to ask if you've further queries.
Sussane
you really need to discuss this with your lender. if you are advancing in your career, it will not be held against you, as a general rule of thumb. nevertheless, since lenders do verbal verifications of employment up to the last minute (and even beyond) it is essential you let them know what you're contemplating - and give them the details.
I think its not necessary to inform lender about your new job unless and untill you are not unemployeed and not able to pay monthly installments.
But its always good if you inform lender about your job change. I think its not mandatory
But its always good if you inform lender about your job change. I think its not mandatory
please read what i said once again. it is essential to notify the lender.