You need to be on the job for 2 years before being eligible for a mortgage.


I just had a client come in who has been on her job for 5 months. She is a paralegal, and in the past had been in the hotel business.

One lender turned her down, even though she had 50% down, because she didn’t have 2 years on the job.

I asked her, “How is it that you “out of nowhere” got a job at an attorney’s office as a paralegal?”. I also had noticed on her bank statement that her investment account had her name with ESQ at the end.

Had she been attorney? She said no, but years ago she had passed the bar and never practiced. That’s why her bank statement says that, and why she can do this new job.

What’s important in lending is asking the right questions. Imagine all the buyers that the realtor’s lender, who initially said she didn’t qualify, has turned down. To me this is malpractice in lending.

The client is happy to be approved, and is now looking for her new home after renting for many years.

Who you have as a lending partner is critical to you, and to the consumer and their dreams of healthy homeownership.

Don’t lose that buyer!