By KARLEASE RUDDOCK, Loan Officer
Many prospective homebuyers don’t realize how changing jobs, becoming self-employed, moving from salary to commission, or reducing hours can affect how income is calculated — even if the new role pays the same or more.
Lenders typically look for a stable two-year employment history to confirm that income is likely to continue. A job change in the same field may still work smoothly, but changes in industry, pay structure, or employment type can require additional documentation and may delay approval. Starting a new business or becoming self-employed will often trigger a request for two years of tax returns before the income can be fully considered.
For buyers purchasing income-restricted or income-limited properties, job changes can create an additional concern: These programs often require household income to fall within a specific range. Earning above the allowed limit — even temporarily — may disqualify a buyer from participating in the program.
As your loan officer, I can help structure things the right way, avoid unnecessary delays, and keep everything moving smoothly. No surprises, no last-minute issues — just a clear path to the closing table.
