Common challenges
Changing jobs mid-process spooks underwriters, and many borrowers delay buying for months waiting for pay stubs they do not actually need.
Programs that fit
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
Jumbo Loans
A jumbo loan is a mortgage larger than the FHFA conforming loan limit for your county, used for higher-priced homes.
Physician Loans
Physician mortgage loans recognize that doctors finish training with high future income, large student debt, and little saved for a down payment.
Tips before you apply
- The offer letter must be non-contingent and show a start date within 60 days of closing.
- A job change in the same field is routine; switching industries raises questions, document the move.
- Physicians and professionals: contract-based programs can go further, including future start dates and training stipends.
FAQ
What is the best mortgage for new job offer & offer-letter loans?
It depends on your documentation and goal. The programs that most often fit are Conventional Loans, FHA Loans, Jumbo Loans, Physician Loans.