How much will changing jobs hurt my chance of getting a mortgage and/or good rate?

Been working for the same company 6 years but am thinking of accepting a job offer for another company that's is a just bit more pay (about 3k more a year). Will this hurt my chance to get a mortgage and/or good rate if I am buying a house in about 3-4 months from now? Prior company before that was 5 years if that makes any difference and credit score is @ 815.

11 Answers

  • 4 weeks ago
    Favourite answer

    If the job change is a lateral career move (similar job in the same industry), it won't have any effect.  The stability of being with your previous employer for so long will also work toward your favor.  But when you make an abrupt change in your career, that sets off a red flag to lenders.  Not necessarily disqualifying you, but a red flag never the less.  Plus a credit score in the 800's is so golden I wouldn't worry if you can prove your income.  Good Luck.

  • ron h
    Lv 7
    3 weeks ago

    For $3 k per year, consider bene's including waiting for a 401k match 

  • 3 weeks ago

    Assuming the new job is working out after the 3-4 months and its the same type of job doing more or less the same type of work, then it probably won't make much of a difference.  

    If you like working where you are, have you considered asking your current employer to match the pay increase at the other company.

  • 4 weeks ago

    supposedly if it is the same field of work, its okay

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  • 4 weeks ago

    Only if it's in a different line of work, and even then, the risk is low. I changed jobs barely a month before I bought my first house, but I had been in that same line of work for five years.  My fiance had been with her company just five months but she had previous employment doing the same type of work. We had no problems. You shouldn't.

  • Anonymous
    4 weeks ago

    Well honestly for only $3k a year isn’t to much of a difference.if you been with a company for 6 years you will have to start over plus when your with a company that long you can get raises Anyway.i will just stay at this job and apply for a mortgage.since u have good history and credit.

  • 4 weeks ago

    The mortgage industry does not require you to keep the same job.

    They prefer if you move jobs, it's in the same industry.

    If it's not the same industry, then it should be salary progression.

    I don't think a job change will impact you. 

    On a side note, i hope you are actually interested in the new job/company.  Change jobs for $3K annual solely for the increase is not worth it, if you are potentially ending up in a job you are going to dislike.

  • Tavy
    Lv 7
    4 weeks ago

    Not a problem in the U.K., lenders require 6 months payslips. Your present employment has been for 6 years so that shows you are not job hopping.

  • Maxi
    Lv 7
    4 weeks ago

    Generally yes it will stop you getting a mortgage..... lenders like to see job consistancy and for some that means you have worked there for 2 yrs or more

  • 4 weeks ago

    Unless the new job is in the same line of work, don't change now.  Lenders want to see 2-3 years on the job.

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