Financing in 11208>Question Details

Daisy, Home Buyer in 11364

The company I work for went out of business a few weeks before closing, I already have another job, still get the loan?

Asked by Daisy, 11364 Mon Sep 9, 2013

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You definitely need to talk to your lender. Income will have to be verified etc to make sure you still qualify for the loan. This needs to be done right away before your Loan Conditions Deadline.
1 vote Thank Flag Link Mon Sep 9, 2013
I think you will be fine Daisy. Good luck.
Flag Tue Sep 10, 2013
I will be making the same and it's the same field of work. I just found out about this last week , so I have been procrastinating talking to my lender till i'm actually on the new payroll, which will be sometime this week. I just hope the odds are still good I get the loan! Thanks for your response, very much appreciated!
Flag Mon Sep 9, 2013
Without much information and since there are other factors involved in determining mortgage qualification, for a personalized answer visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
1 vote Thank Flag Link Mon Sep 9, 2013
Ask your loan officer the question, he/she can better advise. All the best to you!
Flag Tue Sep 10, 2013
Yes, I have been approved not pre approved, I have went through all the motions and was just recently blindsided with this new information. We had the inspection done, already did the appraisal and are now choosing insurance, my new job is pretty much the same field with the same pay, so I was just wondering what are the odds that I will still get the loan? Thanks for your input, greatly appreciated!
Flag Mon Sep 9, 2013
Hi Daisy
Definitely yes - tell your lender - tell your attorney - get all the extensions you need if any - they will
require 2 pay periods. just went through this with my last closing. good luck
0 votes Thank Flag Link Mon Sep 9, 2013
Daisy, 100% yes. Obviously, they need to make sure your new income is along the lines of what it needs to be so you can still qualify. If for whatever reason your current lender gives you a hard time, consider getting a 2nd opinion.

Always available if you need help. Feel free to call or email me. Good luck.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Mon Sep 9, 2013
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