
It is quite a hard thing for any employer to build the trust with a new employee. That’s why this employee is put on a period of probation unless necessary level of trust is reached. The length of probation is between three to six months depending on the employee and type of organization. During this period, it is very difficult to get the approval on the mortgage. So what are the reasons for that?
First of all, mortgage companies don’t consider a newly recruited employee to be reliable regardless his monthly income. This is because there is a possibility that he may be fired at any moment. Therefore, the mortgage company might not accept the application until the probation period for an employee comes to an end. Continue reading “Probation Period Can Create Problems In Getting Home Loan Approval”