How long do I need to keep a job before I can be approved for a home loan?

Posted on Mar 7, 2013 in Stated Income Loans

Question by jamon: How long do I need to keep a job before I can be approved for a home loan?
I am currently working in China but planning to live in the States. After I get back to the States I will not have a job. After I get a job how long do I need to keep this job to apply for a home loan? I have a credit score of 780+/- and an a veteran. I also have aenough cash for at least a 20% down payment.

Best answer:

Answer by Rain
I think a couple of years

What do you think? Answer below!

5avg.rating 21 votes.

2 Comments

  1. We are in the same situation, except the China part. We where told a year at the same place to prove stability.

  2. You have a credit history in the U.S., so that’s very helpful. But the trouble with working abroad is one of documentation. If you filed tax returns in the U.S. while you were working in China and manage to not have a very long break before starting another job, then you’ll only need about 1 year of employment. Otherwise, you’re going to need 2 full years of job history here. The only other alternative is if you have other income sources (from investments, rental property, etc.), but I sensing that this isn’t applicable in your case. Good luck.