Attention first-time homebuyers in Virginia Beach, Norfolk and Chesapeake residents!
Lenders want to see a two-year work history at the same company and with a consistent schedule. If a person changes companies but stays in the same industry, there should be no problem. Further, if the person continues to advance in income or benefits within the same line of work, that will be considered favorable. However, if the person’s routine changes (ex: full-time to part time) EVEN in the same industry, that’s a red flag.
But did you know that education can count towards employment history?
If during the most recent two years, the borrower attended school (like Virginia Tech or University of Virginia) and can provide a college transcript, he/she can use it as employment history.
Featured photo: Photologue_np (Flickr)