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Updated over 3 years ago,
Change of jobs prior to home purchase
Hello, everyone! My family has been learning about real estate and we have been planning for our first rental purchase. We are planning on selling our current house and doing a house hack after it sells (waiting on insurance to pay for some roof damage repair on our current home before listing).
I work as an engineer in aerospace; I was recently provided with job offers (W-2) with two different companies and was wondering how accepting a new job offer may impact my ability to obtain traditional financing.
The new jobs I have been offered are in the same general field and are similar to my current one, but the primary difference is that they are with smaller consultancies. From a details perspective, I would have the same base salary, similar benefits, and a slightly different bonus structure with a greater potential payout. The biggest contrast is the company size (my company has thousands of employees, whereas the new offers are small businesses of <20) and age (current company has been around for over a hundred years, whereas the consultancies are less than ten years old). The companies have solid financials and allegedly have a strong backlog of work and good cash reserves.
I was curious if anyone could help me understand what impacts, if any, there would be in obtaining traditional financing based on if I chose to switch to one of these other jobs.
Thanks in advance!
-Dan