A short-term job, unless you have done it in the past and have proof of that, won't really help you.
Some investors may entertain a gap in employment with a reasonable explanation, but in this case you don't even have the part-time job to claim you re-started it.
The chances are UW will not take into the part time job into consideration. You have to be at the position part time for at least a year before they can take it into consideration. Its the same reason that they wont look into bonuses and commission for many salary jobs.
Let me know if you need a different lenders opinion. I would be more than happy to email you my contacts.
It sounds like you have worked off and on with the second job which is helpful and we would use that as a compensating factor to help make the loan stronger but still would not be able to use the income.
Also, lenders do look at second jobs differently and you might find one that would allow some of the income from the second job under certain circumstances.
Another option might to obtain the second job and use the additional income to pay off a loan that isnâ€™t revolving; this would help lower the DTI for you. Some lenders will allow for you to pay off a revolving account IF you also close the account. I would double check with your lender though before paying down or off any debt as they will know their particular guidelines.
Its not a problem to get a part time job but most lenders will not use the income until you're there a year. However you could use the additional funds to reduce debts wbich would have an impact on the DTI.
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Lynn911 Dallas Realtor & Consultant
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