How important is job stability when applying for a loan?
Mortgage lenders like to see prospective borrowers who have steady employment. The general time frame that’s considered stable is around two years. If you’ve skipped around a lot and had several jobs in a short period of time, the lenders may become a little apprehensive about loaning you money. One exception that lenders actually like to see is if you’ve made several job moves in a short time within the same career, and each time you’ve advanced in pay and title, especially if it’s with the same employer. If you’ve been fired or laid off between the time you are approved for the loan and when you actually purchase the house, you are required to disclose that information to the lender.
