Job title change during mortgage process

[Anonymous]

I'm a worrier by nature and this situation is currently eating me up inside. Please help calm my fears.

I am currently employed by the US Government and have been an employee for 2 years working in the medical field. I applied for a USDA mortgage on 1/30/17. I accepted another job offer within my same field about two weeks before applying for my mortgage, though I haven't yet started in my new job. I was upfront with the LO and made her aware of this upcoming change. Currently I work third shift so I have a base pay, along with a shift differential (3rd shift). When I start my new job, I will lose my shift differential(1st shift) but my base pay will stay the same. When I applied for the loan, my LO based my loan application off of just the base pay and not the shift differential even though the paystubs I provided her shows the shift differential amount which is higher than base pay because I still have not started my new job.

I have a closing date scheduled for March 10.

I was hoping to stay in my current job until March 10 but my new supervisor has called HR and demanding that my current supervisor release me so that I can start my new job in two weeks on February 21st. Everything that I am reading on the internet is saying that its a big NO NO to have any financial/job title changes during the mortgage process BUT my LO has already taken into account this financial decrease by qualifying me using my lower base pay and not the higher pay that I am currently making working my current job.

Although my LO is aware of these details, I'm worried that the underwriter will request more pay stubs after starting my new job and see that my paycheck is not the same as the one that I originally submitted. And when the underwriter does a VOE they will learn of the title change and deny my loan even though the LO at the bank has already been made aware. Do the LO and underwriter communicate about these type of changes?

Should I ask my new supervisor to give me some more time to close on my mortgage before starting the new job? I'm worried that I'm starting off on bad terms asking her to do this. Or should I just start my new job and not worry about it since my loan is based off the lesser amount anyway????? Please advise. Thanks!!!!

I called my LO and asked her was she sure that I am a good candidate for this loan. My credit score that she is using is 778. She also said that qualifying me at the lesser amount, my debt to income was 31% and that they can go up to 40% Not sure exactly what this means but I am still worried and I don't want to do anything to mess up my chances at getting this loan.

I guess I value your opinion on this situation more than my LO lol. I just want to hear what others think. Thanks in advance.

[StartingOver10]

One of the LO's will jump in shortly to reassure you.

It sounds like you are good though because your LO used your base pay and that is the same + you are in the same field + you are no where near your max DTI - which is terrific. Don't worry. I know that may sound glib, but from your post you have everything going the right way

[kc0039]

Start your new job. You're going to be in the same company, just new job description. We used your base pay, then you should be fine. Supply more paystubs once you get the paystubs to your new position to reassure the underwriter that we are only using the base pay (if they require it). The verbal verification of employment, we call 10 calendar days at the most prior to you closing, will be making sure you are still employed. If your employer states you have a new position, that might alert the processor and they'll alert the underwriter. That's the only reasons why I think that you may need to supply the new paystub.  It's not a big deal, since your debt to income is minimal and you have a high credit score. You're doing fine

[DallasLoanGuy]

you wont have a new paystub in the new job for a while. i would explain the situtation to the new boss

[Anonymous]

Thanks to everyone for your help in this matter. I can rest more easy tonight, and can finally be excited about my new upcoming job. Thanks again!