When applying for a mortgage, does the bank consider your years of steady employment or how long you've been at your current job?

Question

Answer

They'll check credit, employment history (most need pay stubs for the past 6-8 weeks), and bank statements. Depending on credit score you may not qualify for any loan. Also, when looking at houses and how large a loan you want to apply for, it's suggested your mortgage not exceed 28% of your monthly income. When they look at your credit and bank statements, they compare your income against the payments you already have each month to see if you even have money left over to make a mortgage payment every month comfortably.

Answer

Both, usually. They're going to look at your credit score, DTI, employment and pay. They may ask you to provide proof of income.

Answer

It depends on how frequently you change jobs and so much more. Seek out a mortgage professional to get you the answers and get you started. If you don't feel like they communicate with you find someone else.

When applying for a mortgage, does the bank consider your years of steady employment or how long you've been at your current job?

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