what if I get married during the approval process

[Anonymous]

Hi just a question...my actual husband apply for a usda loan...we being living together for 4years but he applied as a single man..they ask for all my information like pay stub w_2 ect to ck my income and be sure that we don't pas the limit..after two months we finally got tthe "clear to close"...but now we're married...we told them...did anybody knows if we have to start everything again?the loan still just under his name...and they know since the beginning that we live together and the plans of getting married...thanks

[tcbofade]

It doesn't make any difference at all.

If the mortgage was only in his name all along, it doesn't matter if he marries during the approval process.  He still has the same debt, credit score, and obligations as he did before.

[ShanetheMortgageMan]

Only difference it'd make is if you are in a community property state, then since you are now married your debts would count against what he could qualify for.  Other than that, no difference other than updating the application to mark "married" and if you are going to be on title you would hold title as "husband & wife".

[Anonymous]

Thanks I feel much better now...just a question do we have to submit everything again to usda...cause we're suppose to close this coming Tuesday...and the people from the title company said that they need to ask them to see if we can still closing...but like I said before they know since the beginning that we live together and they have all my income information

[ShanetheMortgageMan]

It shouldn't impact the approval you have from USDA, unless you are in a community property state.

[Anonymous]

Thanks!! I'm not in a community property state..but the told me that the need to re-submit the application as a married man just like u told me..my question now is...did u know how long it will take to come back?there's any chance that they change the approval? Do we have to wait 3 weeks as the beginning?my closing was supposed to be today and I leave the rental house next Tuesday so I'm very worried..we have kids and a lot of stuff..please some help..thanks

[ShanetheMortgageMan]

May just add a day to the process... really doesn't change much other than how you are going to hold title and a checkbox on the application.