Is it okay to change jobs before buying a home?
It depends. For most people, changing employers will not really affect your ability to qualify for a mortgage loan, especially if you are going to be earning more money. For some homebuyers, however, the effects of changing jobs can be disastrous to your loan application. If you earn your income from regular pay (i.e. not commissions, bonuses, etc) and are either a salaried employee or an hourly employee who works a straight forty hours a week, changing jobs should not be a problem as long as you are remaining in the same line of work. If, however, you are a commissioned or part-time employee or a substantial portion of your income comes from bonuses or overtime, you should not change jobs before purchasing a home. Lenders consider these to be unstable sources of income and would like to see at least 2 consecutive years with the same employer to average your income over the period. The same applies for self-employed individuals who already tend to have a more difficult time of getting
