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katie629
LIF Toddler
Member since 8/08 465 total posts
Name:
Kate
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getting approved for mortgage on maternity leave
Did anyone ever try to get approved for a mortgage while on maternity leave. I was on maternity leave until june 30th and will be returning for this school year. The bank seems to think there may be a problem since they are not guarenteed I am going back. I will have a letter from my district stating I am employed and returning this school year. We need my income to be approved for the mortgage. We have everything else that the bank needs to be qualified. Has anyone been in this situation? If so, what was the outcome? If you were approved regardless, and you don't mind saying, what was the bank?
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Posted 8/13/11 10:27 PM  |
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Prudential Douglas Elliman Real Estate
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: getting approved for mortgage on maternity leave
I have heard of this occurring before to another poster here. I think you have two solutions, either qualify for a mortgage only relying on your DHs salary (and you are on the deed) or have your employer verify that you will be returning to work. Good luck.
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| Posted 8/13/11 10:30 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: getting approved for mortgage on maternity leave
I was on ml when we got our mortgage, we did the qualification on just dh salary. They didn't count my salary
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| Posted 8/13/11 11:15 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: getting approved for mortgage on maternity leave
I applied for our mortgage while I was still pregnant, but we bought our house after we had DS. I believe I had to sign something that said that they could contact my employer. I had no problems.
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| Posted 8/14/11 8:44 PM |
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katie629
LIF Toddler
Member since 8/08 465 total posts
Name:
Kate
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Re: getting approved for mortgage on maternity leave
Posted by neener1211
I applied for our mortgage while I was still pregnant, but we bought our house after we had DS. I believe I had to sign something that said that they could contact my employer. I had no problems.
Do you mind FMing me what bank? We will find out this week if our bank is going to have a problem with this.
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| Posted 8/14/11 10:09 PM |
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allIwant
Love my crazy life!
Member since 1/10 9170 total posts
Name:
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Re: getting approved for mortgage on maternity leave
We thought we were going to have issues. The first bank we spoke with said we would but the bank we went with said we wouldn't. I was pregnant when we signed the contract, on bedrest throughout the application process and closed 10 days after I had the babies. I was worried the whole time but it was never an issue!!
We used wells fargo..good luck!
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| Posted 8/14/11 10:33 PM |
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katie629
LIF Toddler
Member since 8/08 465 total posts
Name:
Kate
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Re: getting approved for mortgage on maternity leave
Posted by allIwant
We thought we were going to have issues. The first bank we spoke with said we would but the bank we went with said we wouldn't. I was pregnant when we signed the contract, on bedrest throughout the application process and closed 10 days after I had the babies. I was worried the whole time but it was never an issue!!
We used wells fargo..good luck!
Thanks... I should find out this week if it is going to be an issue (they are sending my district a verification of employment which will say I am employed). The lady at the bank said I would have to go back to work and work 30 days before we could even put in the application. It seems crazy that a verification of employment may not be enough and I am stressing about this non-stop. If it is an issue I will look into Wells-Fargo.
Thank you so much!
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| Posted 8/15/11 10:43 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: getting approved for mortgage on maternity leave
Posted by katie629
Posted by neener1211
I applied for our mortgage while I was still pregnant, but we bought our house after we had DS. I believe I had to sign something that said that they could contact my employer. I had no problems.
Do you mind FMing me what bank? We will find out this week if our bank is going to have a problem with this.
It was Wells Fargo.
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| Posted 8/15/11 11:26 AM |
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want2beamom
Love my boys soooo much!!!
Member since 8/06 10164 total posts
Name:
True love doesn't end with happily ever after...
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Re: getting approved for mortgage on maternity leave
I was on ml, and my salary did not count towards being approved, just my husbands.
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| Posted 8/15/11 11:47 AM |
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