by Jerry
(Anaheim, CA)
Ask Kate about a mortgage for a first time home buyer with new career: Kate, Can I pre-qualify for a mortgage with a newly changed career coming from being laid-off?
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Jerry continues... I used to worked in the accounting department of a hotel designs and renovation company for years with good amount of salary. However, bad economy drove the hospitality business in turmoil that cost most of us employees our jobs last February 2009.
By then I belong to the first group of laid off staff who received pink slips.
Good thing that 2 months before they laid me off, I went and enrolled myself to an online school and took a more stable healthcare career course. The incident made me decide to put my time and effort in studying and not go back and apply for a job in accounting anymore.
Time moves so quick that after 2 years of being a full time student, I graduated, passed my board exam and become a respiratory therapist just last April. I now have a job offer that I accepted in a big hospital near downtown and I am starting next week.
Also, even though I am out of work for 2 years I was still able to maintain a good credit rate. In this regard, will my current situation (shift to a new career) be able to qualify myself for a home loan now that my wife and I decided to purchase our first house?
How long do I need to wait to be able to qualify for a loan?
You can also ask Kate about your mortgage at Ask Kate About Buying a House.
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