Can one get a home loan while on maternity leave?

[iluvdodgetrx]

Anyone know?

[JM-AM]

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@iluvdodgetrx wrote:

Anyone know?

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Simply answered yes.

[BrianB_The_Loan_Professor]

yes - I have even seen a loan given to someone while they were on unemployment - dont think I didnt impress the Realtor when this couple got 100% financing on ahome and the buyer had been laid off at the time - all the bank wants to know is that you have a job to go back to - the reason we were able to get this family a loan was he was a forrest fire fighter and there is no work in the winter so everyone gets notice and they all have rehire rights - 

Good Luck and congrats on the baby

B

[Anonymous]

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@JM-AM wrote:

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@iluvdodgetrx wrote:

Anyone know?

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Simply answered yes.

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Maybe not.

A lot depends on your mortgage underwriter, but if you are on any type of leave then they can and often do deny you.

The logic is that they need to see that your income will continue for a certain period of time (a few years) and if you are on maternity leave there can be the presumption that you will not return.

You'd have to talk to your lender because it also depends on any additional sources of income you may have and also what type of employer you work for.

[AtmyOffice]

Short answer: yes. Long answer: I was on leave up until 1/10 and my mortgage broker would prequalify me for a loan, but wouldn't preapprove me until I went back to work and showed 4 weeks worth of paystubs, just to make sure I was going back to the office.

[Anonymous]

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@AtmyOffice wrote:

Short answer: yes. Long answer: I was on leave up until 1/10 and my mortgage broker would prequalify me for a loan, but wouldn't preapprove me until I went back to work and showed 4 weeks worth of paystubs, just to make sure I was going back to the office.

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Which basically means you cannot get a mortgage while still on maternity leave.