If I just started a new job six months ago, can I still apply for a loan?

A stable employment history is important, but the lender does take human factors into consideration. If you've recently completed college or vocational training, or were released from the military, you have good cause to have a lack of consistent work history. If your profession is seasonal, and gaps in the employment are normal in your field, there are loan programs that can work with your situation. If you are a freelancer or do contract work, the lender will look for consistency of income over the last two years. Also, if you recently changed jobs in the same line of work, this would be considered stable, consistent employment.

Consistency is the key word in the lender's mind. But know that lenders have developed many different loan structures to meet the needs of the general public. You might be asked to provide details about your employment history. This isn't a reflection on you, but is a way for the lender to fully understand your unique situation.

Programs are always changing and evolving in the mortgage industry. We monitor these trends to help you find the loan that is right for you.