Stable Income & Employment

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No matter which program you choose, you’ll need to prove that you have stable income & employment.

Lenders need to know that you can afford the loan beyond a reasonable doubt. Typically, you’ll need at least a 2-year employment history. It helps if that history is at the same job and not at multiple jobs. Lenders like to know that you are stable and consistent. It helps them feel good about the fact that you’ll be able to pay your mortgage on time.

This doesn’t mean that if you don’t have a 2-year employment history that you won’t qualify, though. If you just started your career a few months ago after graduating from college, you can prove to the lender that you just graduated. Each lender will have their own guidelines regarding how long you must be at your job in order to qualify.

Even if you have a two-year history but at various jobs, if you have a well written explanation, you may still get approved. Lenders want to know that you aren’t just a flight risk, leaving a job the second you are unhappy. They also want to know that you don’t consistently lose your job because of inconsistent work. Lenders thrive on reliability and consistency when approving borrowers for loans.

What are the General Mortgage Requirements for First-time Homebuyers?

Below we help you understand the basic guidelines so you can prepare yourself financially to help lead you down the right path to Homeownership!

  1. Return to Buying Your First Home
  2. Assets & Reserve Requirements
  3. Credit Score Requirements
  4. Debt Ratios
  5. Stable income & Employment
  6. Down Payment



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