Blog

Close on your home 90 days before starting a new job!

Categories: Credit, News, Uncategorized | Posted: April 9, 2018
Are you about to start a new job but can’t purchase a home because you do not have paystubs? Most banks and mortgage companies will require 30 days of paystubs at a new job prior to closing. We can close up to 90 days before starting a new job! Here are some quick tidbits of what you need to know:
  • Program is for owner occupied only
  • You may not be employed by a family member.
  • Must have a specific employment offer letter with no contingencies or that all contingencies have been met prior to closing.
  • Conventional mortgages backed by Fannie Mae can close 90 days before employment start date.
  • Conventional mortgages back by Freddie Mac can close 60 days prior to employment start date.
  • FHA mortgages can close 60 days prior to employment start date.
  • USDA mortgages can close 60 days prior to employment start date.

For any specific scenario questions, give us a call!

-MTM

 

midtownblog

Comments are closed.

phoneText Us phoneCall Now