While I don't know all the particulars, you should be fine. Are you using your wife's income to qualify? Your buyer's agent should be told immediately(he/she works for you) But you need to let your lender know today as well. They WILL find out. He/she can guide you through the process of resubmitting or whatever you need to do. I don't know what your due diligence period is for your contract, but if you have to delay closing in order to meet lender requirements, or can't close at all you ,may be in a position to forfeit your earnest money if you don't clear things up right away. I would suggest extending your due diligence period to cover getting things straightened out. Your agent knows what to do!

Yes, you'll be okay. The lender will need 30 days pay check stubs from the new company before you can close and the income will have to be the same or more than the previous. If it's FHA, the line of new work is irrelevant. If it's conventional, she needs to stay in the same line of work, but exceptions can be made (especially in this market). Your wife will need to write a letter to the lender explaining what happened. For those of you reading this: If it's less than her previous job, the lender will have to resubmit your loan through an automated process to make sure that the new debt to income ratio will be okay.

Your lender is the only qualified expert who can answer this question -- and it really depends upon the lender's underwriting criteria. Lenders can verify employment up to the day of closing, so this change could put the brakes on the whole loan process. You should make your lender aware immediately -- so you can plan upon closing as scheduled (maybe possible if new job is in the same field/same pay?), or figure out if you need to work on a game plan ASAP with your real estate agent to extend your contract until the job situation is stable. Good luck!!

"Alone" -

WAY too many variables for anyone here to answer this question... we don't know your mortgage product, debt to income ratios, credit scores, down payment, purchase price, other income, etc.

You'd need to discuss this with your lender.

I've seen similar situations work out, and others not work out. There's just no way for us to know. But I can wish you the best of luck!

HI Alone
I think you may be ok, but you really need to reach out to your mortgage lender............he or she is the only one who knows your particular details, and can give you a definitive answer.

My buyer lost his job 2 weeks before closing, and as a result, there was no closing. He wasn't able to get a new job in time......so his situation is diifferent than the one you are describing.

Good luck, and I hope things work out for you!
Call your lender !

Best wishes...
Debbie Rose
Prudential NJ Properties