Loan denied due to having a new job
I was denied on my next loan due to having a new job job. What should I do wait and see if I get approved after they can use my OT or try another bank?
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Steve Vaughan
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
When I last applied for a conventional mortgage the requirement was 2 years in same line of work and/ or 6 months at new job.
They all have to check the same boxes so a new bank probably won't help if they are Fannie and Freddie backed loans.
Need to get more creative with private, portfolio or commercial loans to find exceptions to standard employment requirements is my guess.