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Employment History Requirements; New Job Usually OK

We are revisiting employment history requirements b/c so many remain confused about them.

A brand new job will not delay qualifying or funding for most borrowers, as long as the new job is in the same field. Some lenders, however, will require a pay-stub reflecting 30 days of pay before funding.

A new job in a new field or after a long period of time off will require at least six months of seasoning.

A new job right out of college or trade school usually requires no seasoning; we can use the income immediately.

A 2nd job and part-time jobs usually require two years of seasoning.

Self-employed borrowers, if strong, often only require one year of job seasoning at Freddie Mac. FHA and Jumbo always require two years of seasoning.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646