Click To View Links

Income and time on the job

by L Johnson

I have been employed for the last five years but not at the same job. How long do I have to be on one job until I can qualify to buy my first new home?


Hello Ms. Johnson;

Your question is a very common one. The good news is this, if you have been employed for 5 years, that's great.

The main question a lender would have is if your jobs have been in the same line of work first of all. If they have not, then as long as you have always improved your situation by earning more income they will be happy with that.

It's always best if you went from say a job waiting tables to a factory or office worker for example.

If your income has continued to improve, if your line of work has been to improve your lifestyle, then your chances are very good that you could apply for a mortgage now.

If your income has gone down, well that is a different story. The lender then would be looking for time on the job, like about 2yrs or more to establish a good work history.

When we really just look at things from the lenders eyes, they want to see stable income that is increasing since that will help them have a good feeling about going forward.

I hope this helps you. Thank you for coming by my site and asking a question. I wish you the best as a first time home buyer.

Kind Regards,


Comments for Income and time on the job

Click here to add your own comments

Income and Time on Job
by: Parrish

It was sure good to know the criteria for working at several places over the years. Where I thought I couldn't qualify for a mortgage, I'm going to check into it now.

Click here to add your own comments

Return to Mortgage Questions.

Recent Articles

  1. Buying a Home USDA vs FHA

    Oct 08, 19 08:33 AM

    Hello, I have a question regarding USDA vs. FHA home loans. I am in the process of getting a home in the next month but was told I wouldn't be approved

    Read More

  2. Buying a home - worst case scenario - what to do?

    Aug 05, 19 10:44 PM

    Hi Help please! I am a first time home buyer, buying a home with my fiance'. He is selling his home currently on the market for $125K with no contingencies.

    Read More

  3. Buying a Home Out of State Questions

    Apr 15, 19 12:36 PM

    When buying a home out of state, should we wait for employment contracts? Or can we use our current state's bank? Find the answers here.

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans

Follow Us On Twitter

follow me on twitter