How To Get A Mortgage Without 2 Years Of Work History
Author:
Ashley KilroyFeb 13, 2024
•8-minute read
Ideally, when you go to get a mortgage, lenders like to see that you have many years of uninterrupted work history behind you because it establishes that you’ve been regularly involved in the workforce and your income is likely to continue. At the same time, we live in the real world.
People change jobs or even industries frequently. People have children and need to take a leave all the time. Maybe you’ve relatively new in your career, but it’s a high-paying job that’s likely to be your source of income for the foreseeable future. You shouldn’t be shut out of buying a home on that basis alone. So how does not having 2 years of work history affect getting a mortgage?
The Quick Answer: Can You Get A Mortgage Without 2 Years Of Work History?
Yes, it’s possible to qualify a mortgage without 2 years of work history. It may require more documentation, though. In addition to the usual things like W-2s, 1099s and pay stubs, you may need things like letters of explanation or statements regarding the likely continuance of your income into the future.
Employment history also isn’t the only thing lenders look at. The amount of the income can also matter as well as other qualification factors like your credit score and debt-to-income ratio (DTI).