I have been on this website for almost two years, planning my wedding and now house hunting/buying. Everyone has been so helpful and I have trusted advice from many posts. Now, my question is...my husband and I are in the process of buying a house. We just got the paperwork to apply for the mortgage, we signed the contract, the title is ready and the appraisal was done last week. Now the glitch...my husband was laid off on friday, but received a job offer on friday (THANK GOD). His salary is the same ( a little higher), but he starts in two weeks. Does anyone know how this will affect our application? I would ask my mortgage broker, but this all happened friday. Thanks for your help! I am stressing until I can speak with her tomorrow!
november12003
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Re: I need help! (long)
We bought a co-op last year and I switched jobs during the process too. They just wanted to see my first paycheck. I would definitely talk to your broker Monday, but I think you should be ok. Good luck!
emc
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Re: I need help! (long)
Thanks for the response...She actually called us at home today to let us know about the appraisal, she assured us that everything would be okay, we'll still be able to get a committment this week!
philby
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Re: I need help! (long)
As long as it is the same or related field, no problem!
anjerandunder
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Re: I need help! (long)
i think we might be in the same boat so hopefully it will go smoothly for you and I. don't worry i'm sure it will be fine
Kriss2c
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Re: I need help! (long)
When FH and I started the process of the house hunting... we are still looking. I was out of work, but I was still able to get a pre-approval. I think that since your husband already has another job lined up it should not adversely affect you.
emc
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Re: I need help! (long)
Everything is going to work out, we should be able to get the committment and lock-in this week. Anjerandunder...as long as you end up in the same field/title with the same pay, you can say it was a lateral move, that it was planned. My mortgage broker is obviously not going to mention the layoff upfront. There are also mortgages (I don't know if they do it in NY, they do in FLA) you can get showing no income, of course the rate is higher.
