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Mortgage  Question?
Work at same company two years to qualify for mortgage?

My wife and I lost our jobs last year but are working now and want to buy a home. Do we need to work for the same company for two years before we apply for a mortgage?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

Lenders typically require applicants to have two years of continuous employment history before you apply for a mortgage but it does not need to be with the same company. Additionally, if you previously experienced a gap in your employment due to a job loss but you are currently employed and your job does not have a probationary or trial period you may be able to qualify for a mortgage. If you had an interruption in your employment lenders typically require that you provide a letter that explains the circumstances and reason for the employment gap. We also recommend that you highlight the stability of your current job and monthly income in the letter. We provide a comprehensive overview of borrower qualification requirements, including applicant employment history, on FREEandCLEAR.

Lenders have some discretion over borrower mortgage qualification guidelines so we recommend that you contact multiple lenders to understand how their policies apply to you. You can contact lenders in your area by clicking INTEREST RATES We advise you to contact three-to-four lenders as mortgage qualification guidelines can vary.

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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