Employment Gaps, will this effect my mortgage application?

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Employment Gaps


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Mortgage lenders will look at your employment history. Steady employment makes you less risky, and it will be easier for you to get a mortgage. Gaps in your employment history can make it difficult to get a mortgage, so it pays to be ready.

Brief gaps are not a problem. If you took a few weeks off before starting a new job, the mortgage lender will not be interested. The banks understand that short breaks happen from time to time. Gaps of sixty days or longer, though, are cause for concern.

If you have gaps of sixty days or longer, the bank may ask for a written explanation, so if you have a two-month gap, write your statement in advance to be ready. Having a gap is not a problem in itself, as long as you have a good explanation. If this applies to you, put some thought into your letter. Be honest, but also be smart. Tell the bank how you were able to pay your bills while you were unemployed. Ultimately, this is what the bank will want to know.