Loan Question - Switching Careers

1 Reply

Hello all,

I've been following BP for over a year now and decided to make a post instead of lurking haha. I'm really excited to get into real estate investing. I plan on getting a multifamily and living in one of the units. Problem is, I'm thinking of switching careers which I've heard can be tricky to get a loan.

I have been in the engineering field for just over 2 years and am planning on going back to school to get my masters in education and become a science teacher. I'm worried that if I try to buy a house after I quit my job and go back to school that I won't get qualified for the loan. Any suggestions here?

Credit score is currently 756. I can only do 5% down right now (was hoping for an FHA loan). I will have a job during college.

Thanks for your help!

Originally posted by @Account Closed :

Hello all,

I've been following BP for over a year now and decided to make a post instead of lurking haha. I'm really excited to get into real estate investing. I plan on getting a multifamily and living in one of the units. Problem is, I'm thinking of switching careers which I've heard can be tricky to get a loan.

I have been in the engineering field for just over 2 years and am planning on going back to school to get my masters in education and become a science teacher. I'm worried that if I try to buy a house after I quit my job and go back to school that I won't get qualified for the loan. Any suggestions here?

Credit score is currently 756. I can only do 5% down right now (was hoping for an FHA loan). I will have a job during college.

Thanks for your help!

If you quit your job you won't get a loan.

Get the loan and then decide your direction.