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Updated over 3 years ago on . Most recent reply

User Stats

245
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89
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Arron Paulino
  • Rental Property Investor
  • South San Francisco, CA
89
Votes |
245
Posts

Changing Jobs Effect On W2 Income Requirement

Arron Paulino
  • Rental Property Investor
  • South San Francisco, CA
Posted

I am thinking about transitioning jobs/careers and am wondering how this affects my ability to get loans if anything. All that I am aware of is that if I do so, I must not do so in the middle of getting financing. I'm trying to wrap my head around the need for 2 years of W2 income for financing. Does that mean I would need to stay working for two years or am I able to switch jobs but still somehow fulfill the requirement? I essentially want to have a W2 job more as a hobby and rely on my rental income to reach financially freedom. I know it is easier as well to get conventional financing by continuing to work, which I do not mind. Any advice is appreciated!

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