Does My Job Affect My Credit Score?

Q: Years ago, I had some unavoidable financial problems that put me way behind on bills. Since then, I’ve worked hard to repair my financial reputation and am now planning to buy a house. Unfortunately, I’m only a waitress and am worried that the lendor will look down on this. Does my job affect my credit score, or will this not matter in the eyes of the underwriter?

A: Your job does not affect your credit score; however, the opposite can be true. Many employers consider a good credit score rating as a sign of responsibility, and some refuse to hire people with subpar credit histories.

In your case, you don’t have to worry about your job affecting your credit rating; however, since waitresses don’t usually make a lot of money, the underwriter may determine that you can’t afford a mortgage loan. On the other hand, if you are married or qualify for a low-income government loan, your credit score and income levels may not be that important.

In the end, the lender will consider your job to see if you can afford the monthly mortgage payments. The fact that you are a waitress will not affect your actual credit rating, but it could torpedo the loan, especially if you haven;t reported all of your tips throughout the year.

By Nathaniel Hutchinson
Financial Expert

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