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Mortgage  Question?
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Does job change affect ability to qualify for mortgage?

I was pre-approved for a mortgage a month ago but received an offer for a new job. Does changing jobs affect my pre-approval and ability to qualify for a mortgage? I found a home I want to buy.

Michael Jensen, Mortgage and Finance Guru
, Mortgage and Finance Guru

As long as your new job does not have a probationary or trial period and you are earning the same monthly income then changing jobs should not impact your mortgage approval. In some cases lenders may require that you provide a full month of pay stubs from your new employer prior to closing your mortgage but this should not prevent you from being approved for your mortgage or delay the process. Additionally, most lenders verify your employment approximately a week prior to your mortgage closing but this should not create an issue (again, as long as you are not in a probationary period with your new job). We provide a thorough overview of borrower qualification requirements, including applicant employment history, on FREEandCLEAR.

Now that you have found a home you want to buy, our recommendation is that you accept your new job offer and start the mortgage process. You should contact your mortgage broker or other lenders to move the mortgage process forward as delays could undermine your ability to buy the home you want.  Finally, even though you are pre-approved by one lender we always recommend that you shop multiple lenders to find the mortgage with the lowest rates and fees. You can contact lenders in your area by clicking INTEREST RATES We advise you to contact three-to-four lenders as comparing proposals from multiple lenders is the best way to save money on your mortgage.

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About the author

Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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