Can you qualify for a mortgage if you have been at your job for 6 months?

Question

My husband and I have been saving up toward a house, and although we aren't in a huge hurry to buy one, we are wondering if it would be possible to qualify for a mortgage. I am currently finishing my degree, and my husband currently works full time as a retail manager. He has been in his position for a little over 6 months. Thanks for your help :-)

Answer 1

If you can have his employer sign a paper saying he has a stable job. As long as you have good credit and make enough money. If you can afford it  find someone to co-sign for you.

Answer 2

Is it possible? sure. But it's up to the mortgage company, for every company has it's own criteria for determining who is eligible and they make their decision based on that criteria.  

Answer 3

They base a mortgage on a lot more than that.  Your credit score, debt to income ratio, employment history beyond that job....etc etc.  Go talk to someone and see.

Answer 4

.   You pay a little higher interest rate but you can get a loan.

Answer 5

Hello Asker,

I just want to first say that although im sure it was in good intention, some of the answerers here are completely mistaken.

About a year and half ago, the mortgage industry was tremendously different then it is in todays market. You used to be able to get a mortgage loan with ease without the best of credit, or even a job for that matter if you have compensating factors.

Unfortunately, due to the crisis in both the housing and credit markets, banks have been forced to adjust their guidelines, and make it increasingly harder to obtain a mortgage loan. (unless of course you are a perfect candidate)

Now, to answer your direct question, ALL BANKS need to see a full 2 years of employment history, preferably with the same job. But, you can still get approved if you have been in the same field for at least 2 years. Now, the same field can be looked at in a number of ways. You dont have to go from a retail store to another retail store to be in the same field. If your husband was a manager at a company, and now has another management position it can be compeltely different industries all together. The key is that the "title" or "Job duty" has to be similar to be considered the same field..

There are also many exceptions to the rule as well. For instance, even if he changed line of work all together, but at this new job has a significant pay increase, or promotion, then this will 9 times out of 10 be accepted as well.

The key is working with an educated Mortgage Banker that can structure your loan in the best way. All mortgage loans are decided on unlimately by an underwriter, so painting the best picture for the underwriter as to why you should be approved is your best bet.

There is alot of missing information here however to tell you that you will DEFINITELY get approved, but you absolutely have a chance. Your best bet is to speak with a professional and discuss your situation further. Im a mortgage banker of 10 years, and would be more then happy to give you some advice or refer you to someone in your area.

I wish you the best of luck, feel free to email me any questions!

Jason Fry

Licensed Mortgage Banker

Answer 6

you can actually get a mortgage with no job, however there are many other things that you have to tkae into consideration.

1. How good is your credit?

2. how much of a down payment do you have?

3. what other bills do you have???

if you have 20% down and good credit, should not be a problem.

Answer 7

I've approved people who have been on their current job for a day.  The rule is same line of business for 2 years.  As long as he didn't go from being salaried (working for someone else) to self employed.

Along with the credit, down payment, etc that everyone else has mentioned.

Answer 8

If he was working in the same field previously for at least two years before he landed this job...yes, he can.