Mortgage App/Raise

[SyntheticMemories]

I was waiting to turn my Self Help Housing/USDA loan in until I got my pay stub with my raise on it, well someone screwed up or lied and it's not going to be processed until  next month. SO, I won't have my paycheck stub with my montly salary until April 30th. I can get HR to sign the paperwork about how much I make with my raise on it.

This will greatly help my DTI, soooo, should I turn my paperwork in? Or wait another whole month? 

Thanks

[foofighter74]

Well, I can tell you that in my case, we were pre-approved before my wife got a new job.  We just officially applied last thursday, and the lender needed a letter from my wife's new employer (same industry, just a better job) stating her base salary, her starting date, etc. In addition, they need 30 days of pay stubs before they can close the loan using her new income as the income of record.  She didn't get her first check until the day after we applied, but i faxed it to them as soon as we got the pay stub. We will do the same with her second check in early April. 

This is a new construction though...so we have several months to work with.  My assumption is that until you get 30 days of pay stubs, they may just use your current pay rate.