Getting a mortgage with a new job

[Superfraggle]

Just wondering, as I have simultaneously reached a point where I am ready to think about buying, but want to look for a new job...how long would a mortgage broker want you to have been in a job before entering into a mortgage, assuming the new job is in the same field as the previous one and a comparable salary range?

[manwiches]

A couple things you could do here

1. Apply for pre approval now, look for a house, then buy while still employed. Bank doesn't need to see you changed jobs, as you qualified with your previous job

2. If you got your new job first, then find a place, get your new company to write you a letter (forgot what the kind of letter it is called), that essentially confirms what your expectant salary/wage is, and your role. That was what I did when I moved to Regina, and the bank was happy to see that for me.

I am sure there are more, but those are the two situations I have experienced personally

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[manwiches]

Yeesh... tapatalk took me right to the mortgage section, and I responded to an old thread. Oops

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[Superfraggle]

Originally Posted by manwiches

Yeesh... tapatalk took me right to the mortgage section, and I responded to an old thread. Oops

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Still much appreciated. It didn't get a response to begin with and the new job now starts in a week! Have just continued procrastinating on the mortgage investigation in the meantime.

[jwslam]

Originally Posted by Superfraggle

Still much appreciated. It didn't get a response to begin with and the new job now starts in a week! Have just continued procrastinating on the mortgage investigation in the meantime.

Highly recommend Tim for mortgage broker if you don't already have one. Very knowledgable and answers all your concerns.

I had the same issues as you a few months back except it was with a mortgage renewal and new job. Tim's response was as long as the job is similar and you're not expecting to make less, the banks really don't care.