How does my employment history affect mortgage approval in Oregon?

@berta 

Your employment history plays a significant role in the mortgage approval process in Oregon. Lenders will typically look at several key factors related to your employment history, including stability, income level, and job history.

Stability: Lenders want to see that you have a stable job and steady income. They will look for a consistent employment history with the same employer or within the same industry for at least two years. Frequent job changes or a lack of employment history may raise red flags for lenders.

Income level: Lenders will also assess your income level to determine whether you can afford the mortgage payments. They will look at your current salary, as well as any additional sources of income or financial assets. A higher income generally improves your chances of mortgage approval.

Job history: Lenders will verify your employment history by requesting recent pay stubs, tax returns, and employment verification from your employer. They may also contact your employer directly to confirm your employment status and income level. Gaps in employment or a recent job change may require additional documentation and explanation.

Ultimately, a strong and stable employment history can improve your chances of mortgage approval in Oregon. It demonstrates to lenders that you are financially responsible and capable of repaying the loan. If you have a less than ideal employment history, you may still be able to qualify for a mortgage, but you may need to provide additional documentation or explanations to address any concerns raised by the lender.