Switching jobs during qualifying process

[hotsunsun]

Hi,
My husband and I started the process to qualify for a home in Delaware where we were pre-appoved based on our details at the time. Both of our names are on the application but at the time I was working (NACA employment prerequisite was on my working status) while my husband was unemployed. We have just moved down to South Carolina since my husband got a job opportunity and I had to quit my job to make the move. Since our employment roles are now reversed, how does this affect our (steady employment) status? How else does this affect our application to qualify for a home in SC? (we have moved our file to SC). Thank you.

[Nelsont]

Generally speaking switching jobs doesn’t matter too much. Your qualification amount will be adjusted based upon the salary of your new job as long as there is no gap in unemployment or just a small one of 2 months or less that can be explained by switching jobs.

There is the time requirement though of needing 2 years worth of w2s. 2017 and 2018 to be exact. Your husband’s income can only be used if his gap in unemployment is small. Otherwise you will have to wait until you get a new job yourself.

[hotsunsun]

Thanks for the quick response.
My husband’s gap in employment was 6 months so I am guessing I will have to go back into the job market quickly in order to be okay…? Will we have to get re-qualified in South Carolina?

[Nelsont]

I think the more important factor is employment. You probably will be fine if you get a job soon.

[Newlywed Homebuyers]

I also went through a SC office. You will be unable to get qualified if the gap is longer than 3 months. Unless your income covers the amount you want to qualify for.

[Author]

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