Credit Access denied

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    I’m confused.

    Several times in the process we’ve asked several people about adding jobs or changing jobs and have been advised it wouldn’t be an issue as long so no gap and same industry. My husband was an independent contractor (consultant for a broker) and then picked up a job as a consultant for a bank. We were confirmed this would not be an issue. We qualified, found a property, and put down our earnest deposit. But this week our credit access was denied stating the new job needs to be a year.

    I’m confused because we’ve asked several people at NACA who said we would be ok. I’ve search the blog for answer also and I see it doesn’t matter as long as there is no 30 day gap. Please help and clarify


    Hello sunraess,

    The issue here is that he went from self-employed (1099 independent contractor) to W2 employee. That’s more than just a job change.It may be in the same industry, but it is still considered a career change when going contactor to employee or vice versa.

    The people who said it was okay probably weren’t aware of the specifics of the change.

    Tim Trumble
    Online Operations, NACA

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