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Has anyone applied for a mortgage lately while on maternity leave?
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lbelle821
Arghhhhh
Member since 2/06 5285 total posts
Name:
Lisa
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Has anyone applied for a mortgage lately while on maternity leave?
Sometimes you just can't help the timing of things. We've been planning an addition to our home for two years now and finally got all of the variances and stuff we need. So we go to apply for the mortgage again (because we already did this last year before we got stuck with some issues) and the mortgage broker is concerned with how the underwriter will feel with me going out on maternity leave next week for the next 5 months.
Most of my leave will be fully paid both through disability insurance and me taking 4 weeks of my own PTO time. I have another 6 weeks of being paid at the NJ rate which is less than my full salary. And then another 2-3 weeks unpaid. But for the most part my income won't change all that much.
What has been your experience when dealing with this in order to prove to them that I will be returning to work and that I still will draw most of my salary during the time period that I'm out? Any advice?
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Posted 2/8/11 8:59 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Has anyone applied for a mortgage lately while on maternity leave?
You are a permanent employee.
Loan officers will check both with your employer to verify employment.
You could always ask your employer to write a letter stating that you are a permanent, FT employee in good standing.
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| Posted 2/8/11 9:24 PM |
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allIwant
Love my crazy life!
Member since 1/10 9170 total posts
Name:
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Re: Has anyone applied for a mortgage lately while on maternity leave?
I just went through this. I had some mortgage brokers tell me it would be an issue and others tell me it wouldn't. I was working when we started the process. When it was at underwriting I was out on bedrest but still getting paid my regular salary. At the time of closing I was on maternity leave, but yet again still getting paid on payroll because I was using my sick days.
I think it depends what your employer would say if the bank was to call them to verify your employment. good luck!
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| Posted 2/9/11 4:11 AM |
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MrsO
Big Brothers to Be
Member since 1/07 4521 total posts
Name:
Maureen
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Re: Has anyone applied for a mortgage lately while on maternity leave?
We did and it wasn't an issue. They just needed a letter from my employer saying i was on maternity leave.
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| Posted 2/9/11 7:44 AM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: Has anyone applied for a mortgage lately while on maternity leave?
Posted by MrsO
We did and it wasn't an issue. They just needed a letter from my employer saying i was on maternity leave.
yup that is what I had to do also
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| Posted 2/9/11 9:51 AM |
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