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USDA under-writing and new job new income

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bubbe2005
Member

USDA under-writing and new job new income

weeks after we close on our home and USDA approved our loan, I got a new job and new income.

For how long does USDA investigate ones income AFTER we have closed on our home already? and now with this new job we make more than the income limit.

Does USDA carry on investigating for years after approval and after we have closed on our home?

Message 1 of 5
4 REPLIES 4
bubbe2005
Member

Re: USDA under-writing and new job new income

anybody???

Message 2 of 5
webhopper
Moderator Emeritus

Re: USDA under-writing and new job new income

Once you have qualified and closed on the home, you're in the clear. No need to worry about income as long as you're making enough to pay your housing obligation.

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 3 of 5
bubbe2005
Member

Re: USDA under-writing and new job new income

I hope so cause even our LO said the same thing.

And I couldn't find any clause on USDA underwriting saying that they will continue to investiagte ones income and verify ones employment AFTER one has closed on the loan.

Message 4 of 5
webhopper
Moderator Emeritus

Re: USDA under-writing and new job new income

I think you can stop hiding under the bed with the flashlight waiting for them to come break down your door and tell you to get out Smiley Very Happy

 

Congrats on your new home!

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 5 of 5
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