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  • August 31, 2011 at 5:08 PM #727605
    bake
    Participant

    That should not be a problem if it is the same line of work and you had a good reason to take the time off. Send me a message with your contact info and I’ll be happy to talk to you about it, thanks…

    August 31, 2011 at 6:03 PM #726784
    SK in CV
    Participant

    [quote=bake]That should not be a problem if it is the same line of work and you had a good reason to take the time off. [/quote]

    What’s a good reason? Is losing your job good enough? And what if the break is more than a few months, say maybe 9 months? Is there a standard minimum length of verifiable new employment before lenders will even consider making a loan?

    August 31, 2011 at 6:03 PM #727997
    SK in CV
    Participant

    [quote=bake]That should not be a problem if it is the same line of work and you had a good reason to take the time off. [/quote]

    What’s a good reason? Is losing your job good enough? And what if the break is more than a few months, say maybe 9 months? Is there a standard minimum length of verifiable new employment before lenders will even consider making a loan?

    August 31, 2011 at 6:03 PM #727634
    SK in CV
    Participant

    [quote=bake]That should not be a problem if it is the same line of work and you had a good reason to take the time off. [/quote]

    What’s a good reason? Is losing your job good enough? And what if the break is more than a few months, say maybe 9 months? Is there a standard minimum length of verifiable new employment before lenders will even consider making a loan?

    August 31, 2011 at 6:03 PM #727481
    SK in CV
    Participant

    [quote=bake]That should not be a problem if it is the same line of work and you had a good reason to take the time off. [/quote]

    What’s a good reason? Is losing your job good enough? And what if the break is more than a few months, say maybe 9 months? Is there a standard minimum length of verifiable new employment before lenders will even consider making a loan?

    August 31, 2011 at 6:03 PM #726870
    SK in CV
    Participant

    [quote=bake]That should not be a problem if it is the same line of work and you had a good reason to take the time off. [/quote]

    What’s a good reason? Is losing your job good enough? And what if the break is more than a few months, say maybe 9 months? Is there a standard minimum length of verifiable new employment before lenders will even consider making a loan?

    August 31, 2011 at 8:24 PM #727539
    bake
    Participant

    It’s not cut in stone but 6 months back on the job is good. The shorter the employment gap and stronger the reason for it(i.e. maternity, medical, school or training) the better, and of course the longer you have been back at work and the stronger the rest of the scenario the better…

    August 31, 2011 at 8:24 PM #727690
    bake
    Participant

    It’s not cut in stone but 6 months back on the job is good. The shorter the employment gap and stronger the reason for it(i.e. maternity, medical, school or training) the better, and of course the longer you have been back at work and the stronger the rest of the scenario the better…

    August 31, 2011 at 8:24 PM #726931
    bake
    Participant

    It’s not cut in stone but 6 months back on the job is good. The shorter the employment gap and stronger the reason for it(i.e. maternity, medical, school or training) the better, and of course the longer you have been back at work and the stronger the rest of the scenario the better…

    August 31, 2011 at 8:24 PM #726844
    bake
    Participant

    It’s not cut in stone but 6 months back on the job is good. The shorter the employment gap and stronger the reason for it(i.e. maternity, medical, school or training) the better, and of course the longer you have been back at work and the stronger the rest of the scenario the better…

    September 7, 2011 at 7:24 PM #728610
    kev374
    Participant

    it’s actually a sabbatical for travel I took. I have strong income otherwise, in the $120-140k/yr range since 2005. The gap is 2010-2011 and I am back in a $140k/yr job now. I’m a Sr. Software Engineer by profession.

    September 7, 2011 at 11:57 PM #728633
    temeculaguy
    Participant

    I think that works, there is more to it than just time off. I knew someone where the wife took off more than ten years to home school their kids, the kids grew up, she went into a new line of work and was only on the job for about 6 months. They had good fundamentals (In fact they were kinda loaded because she doubled their income and the purchase wasn’t a stretch above what their rent was without her income) but they needed to calculate about 25% of her income to qualify and the first lender said no. They had to shop around but they found a lender and at market rates. The reasons they were given was that it was a combination of things. Her lack of work history, the new line of work she was now in and her probationary status at work. It wasn’t a single thing in a vaccum, but a combination of things.

    In your case, it’s not a huge threat to your ability to repay the loan, so I think you should find at least one lender out there, especially since it is the same line of work.

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