Hey @Rusty Pollard , check with your broker, but yes, changing jobs may very well hurt your ability to qualify for the refi. If at all possible, try to not switch jobs until after the refi. If you're switching companies but staying within the same industry, it may not be as bad, but it's definitely not going to help either. I might reconsider looking at a rehab loan.
Sorry I can't be more help, good luck!
Conventional (Fannie/Freddie) loans cover the verification of commission income as such:
A minimum history of 2 years of commission income is recommended; however, commission income that has been received for 12 to 24 months may be considered as acceptable income, as long as there are positive factors to reasonably offset the shorter income history.
For FHA and/or FHA 203K, the rules are:
The Mortgagee may use Commission Income as Effective Income if the Borrower earned the income for at least one year in the same or similar line of work and it is reasonably likely to continue.
If you're base income (even if smaller than it was previously) cover your DTI, then you're fine. If you want to use the commission income, then 12 months is the minimum provided there are compensating factors: your income increased dramatically, non-borrower income taken into account (i.e. spouse's income), or something similar.
Thanks so much for the input!