Switching jobs before applying for a mortgage info

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MemberSince99
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Switching jobs before applying for a mortgage info

Postby MemberSince99 » Wed Mar 12, 2014 3:20 pm

Just an FYI for others who are thinking about getting a mortgage. I've been feeling like I don't really like my job lately. I have nowhere to go there, I got tagged as a moron when I started and once they peg you as an idiot you could die on a cross and rise again in 3 days and you'd still be a POS so you aren't shaking that, and the people I work with, my God, just the most dour, back stabbing group I've ever seen in my life. The energy of the group is not good at all. I avoid my own group and go chat with the mini computer group who are down to earth and fun to be around, believe it or not.
Anyway that aside I got to thinking why in the hell do I want to stay in a place where no matter what I do I'm crap and I don't even like the people I work with, so I wrote the loan officer asking if I change jobs now will it destroy my mortgage chances and she says it won't matter I just have to give 2 years employment history regardless.
So an FYI for anyone thinking of making a change. I may have to for my own happiness. I make a living there and I'm grateful for that today but it sure doesn't give me anything else, and while I'm grateful if I could get happiness and a sense of satisfaction as well as not being considered a total dumbass, I'd love that as well.


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Postby linuxmachine » Wed Mar 12, 2014 6:56 pm

FWIW I switched jobs about 9 months prior to taking up a mortgage. I was asked for 2 years worth of tax history and my most recent paycheck to verify stable income. As long as you don't take a pay hit on the new job, it really shouldn't matter, and even then, not all lenders ask for the most recent pay stub. I got a nice raise when I switched workplaces, so it actually worked in my favor.

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Postby MemberSince99 » Wed Mar 12, 2014 7:28 pm

That's good to know. I was under the mistaken impression they don't like it when you change jobs. It's not the 60s anymore and very few are going to retire from where they are today (if they ever retire at all). So it seems my impression was very mistaken and I don't need to worry about changing jobs.


now it's a matter of finding one that's worth changing to. I've had far worse jobs than this one, so there is worse out there, I just ideally want better, one I can grow with and be recognized for the good work I crank out (and my boss knows I crank the work out and it's damn good but I was tagged a moron when I started and once that happens you simply can never beat that, that I've seen) and I'd like to work with people I like to work with and can socialize with at least a bit unlike this group which is all about playing politics and backstabbing each other it's like a morgue with them. So, those are things I'd like to find. Plus it wouldn't hurt if the new company was less uptight. But you can't have everything I know.

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Postby MrMosby » Wed Mar 12, 2014 9:46 pm

Underwriters typically frown on it, it puts you in a higher risk category. With that said, my wife switch jobs the week before we closed on our second house and they opted to run everything based on my credit as the process was much simpler than handling the job change.

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Postby MemberSince99 » Thu Mar 13, 2014 6:46 am

Oh well. I'm only going to leave if I get the idea it's for something better. Employers around here, with this perpetually depressed economy, are so nasty and arrogant it's unbelievable. They really believe in their own (psycho) minds that they would be doing you one hell of a big favor to offer you a position for half the pay you make now. I'm lucky I have a job so I don't have to put up with their crap and I can be choosy (after all why leave for less....it's obvious to you and I you don't do that, but not to these wackos).


So I may not find anything, which that to me is a bigger flag by FAR than if I change jobs because if I lose this one what will I do then? But if I do make a move, I will need to believe it's for a better position, and if they feel I'm a PITA for wanting to do that, then go grab someone who is desperate and when you bark at them to SIT will scream SIR YES SIR and not look for a chair.


I think wanting to feel a sense of satisfaction and being recognized for your contributions (rather than being treated as and thought of as a moron) and enjoying being with the people you work with are important things. Money is too, but if the rest isn't there, you won't be happy. And how good will you really be then?

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Postby JoDa » Thu Mar 13, 2014 10:43 pm

My (semi-professional) opinion, it shouldn't matter much so long as you don't change *fields,* get at least 2 paychecks from your new employer before you buy, don't take short-term contract or temporary work, and your income remains stable or goes up. Sure, sure, they'd love if you were in the same job forever, but, um, sometimes people have to (okay, want to) buy places because they're relocating for a job, and if they turned all those people down it would be a major hurt for them. If all your other specs are good (income, down payment, debt, and credit score), if one turned you down for changing jobs within a few months of purchasing, I'd just move on to the next...
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Postby djrez4 » Fri Mar 14, 2014 12:09 pm

When we originally started the homebuying process, I was self-employed. They wanted two years of info from me then, but, I was "told" that if I could scrounge up an employment contract from a friend's firm, they could base the application off of that paper instead of my actual financials.

Same as it ever was....
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Postby MemberSince99 » Fri Mar 14, 2014 12:30 pm

Yep pretty much. Despite all the ballyhoo about the bailouts and so on, not much has REALLY changed.


I knew that would happen for a very simple reason - those who did this before never had to pay the price for it, instead we the taxpayers bailed them out. It's simply human nature that if there is no penalty to pay for an act but you can profit by it, you will do it. It's like if you get pulled over for speeding I pay the ticket for you. Well then why wouldn't you speed?


Because the banks paid no penalty for their actions they are sure to repeat them and I've been saying for years if you give them another 20 years we'll have another round of bailouts because pressure to produce profits will mean you'll get people who will repeat this stuff all over again. Why not when you are too big to fail and the taxpayer can pick up the tab for it.


But at least spare us all that crap about what rugged individualists you are - my bailout money says otherwise. And spare me the crap about how terrible socialism is too - if it's that bad you should have refused that bailout money and your obscene bonuses too. Bonuses are SUPPOSED to be for excellent performance not a birthright for morons who run their company into the ground.

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Postby Vattené » Fri Mar 14, 2014 10:04 pm

Best of luck in finding a new job! It seems like quite the hellhole. I myself have been looking for a few months. It's rough out there.
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Postby MemberSince99 » Sat Mar 15, 2014 7:48 am

Thanks it sounds like you are going through exactly the same thing. Yeah it's not pretty here in Wisconsin, I don't care what the media says about things being so much better, they obviously haven't looked for a job here.


There is a very simple way to judge how the employment market in an area REALLY is - apply for a few positions. The arrogance level and the demands of the potential master I mean employer will tell you right away how things really are. I find that a lot more useful than listening to the media fawn and cheerlead.


So, honestly I don't know if I'll even find anything. And you know the seriously scary part of that is what if I lose this job what the hell do you do then? It's not likely to happen anytime soon (though some days part of me wishes it would) but it is a sobering thought.


I keep hearing about some "recovery" but that never happened in Wisconsin and I'm sure a few other Midwestern states as well, we have no clue what they are going on about.



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