How soon after you change jobs can you get a mortgage?

Hello,

My husband lost his job on Monday due to massive layoffs at his company. He got 3 months of severance pay, and we're not too concerned about his ability to find another job soon since he's already had several interviews this week. However, we're wondering how this will affect our ability to get a mortgage as first time buyers. We were planning to start looking soon. However, I know lenders don't like to finance people who've recently changed jobs. How long do you think he'll need to be at his new job before we can get financed for a loan? Will it help at all that I've had the same job for the past 5 years? Thanks!How soon after you change jobs can you get a mortgage?
We got a home loan 6 years ago and my husband hadn't even graduated from college yet! He had a few weeks left, but he already had a job lined up following graduation. Times are different now, but now is a GREAT time as a first time homebuyer b/c of the new law passed today in the Senate. You will get a $7500 tax credit. Good luck to yall!!!How soon after you change jobs can you get a mortgage?
The answer to your question is no time at all.

Lenders are not going to be concerned that he has changed jobs at all. However, if a significant amount of time lapses between his old and new job (say more than 1 month) then you may run into a problem.

Answer to your second question is yes, your stability will help.

Once he has secured a new job you will be qualified to apply for a mortgage.

When applying for a mortgage you will both need to provide 2 years of employment and residence history.

As long as there has been no large gaps in employment you should not have an issue.
That's ok. you have a steady job and he had one. As long as he seeks employment soon, preferably w/in the same field, you two will be fine. Typically what banks look for, is 2 years steady employment and if you change jobs w/in the same field. They have no problems at all with getting new employment. They just don't like people bouncing all over the place, work as a cashier one year, a house cleaner the next year, a banker the next, etc.... So you'll be fine.