answersLogoWhite
Ask
Loans
Mortgages
Money Management

Do banks require permanent employment for a minimum number of years for mortgage applicants?

949596
Answer

Top Answer
User Avatar
Wiki User
2015-07-15 21:22:24
2015-07-15 21:22:24

Banks require a 2 year job history, you can have different jobs as long as they were in the same industry. So as long as you can piece together atleast a 2 year job history, you will be fine. If you have any issues there are alternative documentation types such as stated income, no documentation, etc.

1
0

Related Questions

User Avatar

A fulltime employment involves a minimum of 8 hours (sometimes more/less, depending on the business) and comes with certain benefits which are not enjoyed by a part time employee. "Permanent" employment is generally Fulltime and the term (permanent) is mostly used in state (government) owned jobs. A "Permanent" employment starts with a probation period, successful completion of which leads to an employee termed as "Permanent" or "confirmed". Once an employee becomes "Permanent", he/she enjoys certain additional benefits like PF, Gratuity, Pension etc. The term "permanent" essentially means that the employer will not terminate an employment contract under normal condition. This gives greater stability to the employees.

User Avatar

Richard Dickens has written: 'The effect of minimum wages on employment' 'The employment effects of the October 2003 increase in the national minimum wage' 'The effect of minimum wages on UK agriculture'

User Avatar

A paid employment position for which the compensation is the minimum allowed.

User Avatar

Minimum requirements are the ability to make the montly mortgage payment. You also must be able to show that you have used credit responsibily in the past.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.