*Change Jobs/Employment Post- Qualification and Bank App*

Home Forums Purchase Program *Change Jobs/Employment Post- Qualification and Bank App*

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #72068
    MDPeach22
    Participant

    Hello all,
    I’m already qualified and have already entered into contract on a house and moved through bank application process – now I’m just waiting for my house to be delivered (it’s new construction) – May 2021. I’m in a position where I may need to leave my current job. If I change jobs b/w now and then, how will that affect my process at this juncture? I don’t want to be locked down on this job until I close – it’s a toxic environment.

    #72073
    Nelsont
    Member

    Change your job. You will just need 2 pay stubs from the new job. As long as your income doesn’t decrease and you don’t quit and then start looking you will be better off.

    #72077
    MDPeach22
    Participant

    @Nelsont, thanks for your response. Any ideas of how it might affect me if I get a lower paying job? So say I’m qualified for $1500/month…might it bring me down to $1200/month?? Even though I already agreed on buydown amount and everything and based my purchase off of the original qualification amount

    #72078
    Nelsont
    Member

    If your current piti after buy down is lower than your new qualification amount then you’re good to go. Otherwise it needs to be reworked.

    #72079
    MDPeach22
    Participant

    Thank you, @Nelsont

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter