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2 year employment history required for mortgage qualification
To qualify for a residential mortgage loan, two year employment history is required. The mortgage loan applicant does not have to work two years on the same job and gaps in employment is allowed, however, a two year overall employment history needs to be documented. For example, if a mortgage loan borrower has been employed for one year from 2010 to 2011 and has been laid off from 2011 until 2013 and got a new job in 2013 until now, that is a two year employment history even though he has been unemployed for two years. This mortgage loan borrower will qualify for a mortgage loan. Years as a full time student can be substituted as full time employment as long as the mortgage loan borrower can provide technical school or college transcripts. For example, if a mortgage loan applicant went straight to college from graduating high school and then went straight to law school after graduating college and never worked a day in his life and once graduating law school got a full time job, the years in law school can be used towards the two years employment history required and this person will qualify for a residential mortgage loan.

Here is an article on two years employment history.

Attached is an article on not having at least a 2 year employment history to apply for a mortgage loan that might help some readers.



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