how long does a person need to be employed at their job to qualify for a loan

Hello,A minimum history of two years of employment income is recommended. However, income that has been received for a shorter period of time may be considered as acceptable income, as long as the borrower's employment profile demonstrates that there are positive factors to reasonably offset the shorter income history.Borrowers relying on overtime or bonus income for qualifying purposes must have a history of no less than 12 months to be considered stable.

You must have a 2 year history of employment and/or schooling to qualify. It could be many different jobs and even seasonal.How long at your CURRENT job depends on how you get paid but must not be probational. If you have a contract that starts by close of escow, we can count that right now. If you are salary, we can count it now. If you are GUARANTEED minimum weekly hours, we can count it now.If you are variable pay week to week, we must count a 2 year average of income ability.

More info needed to advise you directly, but in general.. lending guidelines require a 2 year work history.. however, if you have a 2 year college degree and you are now working in your field of study, the your schooling becomes an extension of your work and is acceptable. If this is your scenario, then once you have 30 days worth of pay stubs, you can apply right away.. If you need help, feel free to reach out to me,, i'd be glad to assist. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893