Started a New Job and Want a Mortgage Here Is What Lenders Need

A lot of buyers assume that starting a new job makes getting a mortgage harder or even impossible. That's not quite right. Lenders don't require you to have been at the same job for years. What they care about is stability and predictability of income. In many cases, a new job in the same field is completely fine. In some cases, it's actually better than staying at a job you've been at for years.

Here's what lenders actually look at, and how to position yourself correctly.

What Lenders Look for in Employment History

The standard for conventional loans is a two-year employment history. That doesn't mean you have to have been at the same employer for two years - it means lenders want to see two years of consistent, documentable employment or self-employment in the same field. If you've been in marketing for four years and you just took a new marketing job, your employment history is fine. The field continuity is what matters.

What raises flags: gaps in employment, a switch to a completely different industry, or moving from salaried to commission-based income right before applying. Those require more documentation and sometimes a longer wait.

When a New Job Actually Helps Your Application

If your new job comes with a higher salary than your previous one, that's a straightforward positive for your application. Lenders use your current income to qualify you, not your income from two years ago. A job change that increases your income while staying in the same field is generally not a problem.

For salaried or hourly positions, your first pay stub from the new employer is typically enough to verify income. For commission or bonus income, lenders typically want a two-year history of variable pay before they'll count it - so if your new role has a higher base salary and a bonus structure, they'll usually qualify you on the base alone for now.

What If You Just Started and Haven't Received a Pay Stub Yet

This situation comes up more than you'd think. If you've accepted an offer but your start date is still a few weeks out, some lenders will work with an offer letter. The offer letter needs to confirm your start date, your salary, and the fact that it's unconditional (not contingent on a background check that hasn't been completed yet). This isn't accepted by every lender or every loan program, but it's a legitimate path.

The best explanation of what each approval stage actually looks like, and why DU approval carries more weight than a basic pre-qual letter, is our post on prequalification vs. preapproval vs. DU approval. Worth reading before you make any offers.

Probationary Periods and What They Mean for Your Mortgage

Some employers put new hires on a 90-day probationary period. That alone doesn't disqualify you, but lenders will note it. If you're applying during your probation period, be prepared to explain the terms of your employment and what happens at the end of the review period. A letter from your employer confirming that probation is standard policy and doesn't affect your employment status often resolves this.

The bottom line is that a new job is rarely a dealbreaker. The specifics matter. At 14 Days to Close, we work through employment situations like this routinely. Schedule a callback with a loan advisor and we'll tell you exactly where you stand.