If I change jobs from a self employed individual to a w-2 employee in a different field, how long do I need to wait to purchase a home?

(1) | asked by: Kimberly Hollins | share | 10 months ago | Report
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The short answer is ... "It Depends"... on several factors. is the field you were self employed in, any way connected to your new job? or will your new employer write a letter detailing why they hired you and how your previous business/work experience are an advantage in your new position. this really needs to be handles with a conversation, because there are so many variables and unknown factors. let me know if you have other questions. Hope this helps.
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2 weeks ago  |   Report   |   share
answer by Lexsine Mitchell    |   Visit My Website   |   Contact Me
Kimberly there are a lot of factors that play into giving you an answer. I would recommend that you speak with a loan officer. It would be contingent on your individual circumstance, down payment, first time home buyer question etc.
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10 months ago  |   Report   |   share
answer by Barbara Seymour    |   Visit My Website   |   Contact Me
Having a letter from employer stating your income and hours working, that along with 2 years of tax returns is sufficient to apply. Let me know if there's anything else I can do.
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10 months ago  |   Report   |   share
answer by Money4Homez    |   Visit My Website   |   Contact Me
Not Long. Just need 30 days paystubs prior to closing. Assuming you meet all other criteria. Hope this helps!
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10 months ago  |   Report   |   share
answer by Money4Homez    |   Visit My Website   |   Contact Me
Hi Kimberly- This is definitely something that can be done without a big waiting period. It also depends on loan type as that will determine what docuemtation is required and what the rest of the guidelines say. But I have helped many folks who have done this. Happy to help. Just let me know.
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10 months ago  |   Report   |   share
answer by Cappy    |   Visit My Website   |   Contact Me
What typeof loan are you thinking? FHA might be an option if past employment history is good and new job is not huge pay difference from past history
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10 months ago  |   Report   |   share
answer by Gerald Saunders    |   Visit My Website   |   Contact Me
That is a perfect question for a lender, because the answer varies from different types of loans, different lenders and even in some cases the relationship ( if any) between the employer and the lender can make a difference. Get with a good realtor to find that excellent lender match for your situation.
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10 months ago  |   Report   |   share
answer by Rand Fisher    |   Visit My Website   |   Contact Me
Generally past any probation period you might have.,..then show 2-3 months pay stubs
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10 months ago  |   Report   |   share
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