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Uh Oh...Income Question

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jadeite788
Established Contributor

Uh Oh...Income Question

Okay, I am a salary worker, however I am on maternity leave and I go back to work September 20.  I know weird date.  Well my check is going to be a little funky for the month of August and September.  I get paid in August but partially and the rest is coming from my short term disability check since I had a c-section.  In September I will have 9 days of unpaid leave, however the rest will be paid.  I already gave my earnest money and option fee.  Will that disqualify me for getting the home.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Uh Oh...Income Question

I wouldn't worry, they look at income over a long period of time, plus you have circumstances for a different income for a short period of time.  Your loan officer should be able to answer this for you.  You'll probably have to give them a letter about the circumstances of the paycheck.

Message 2 of 4
DallasLoanGuy
Super Contributor

Re: Uh Oh...Income Question

this is not a problem.

they will use your full salary

 

Retired Lender
Message 3 of 4
jadeite788
Established Contributor

Re: Uh Oh...Income Question


@DallasLoanGuy wrote:

this is not a problem.

they will use your full salary

 



Thanks Dallas, spoke with my LO yesterday, and she said it was fine.  I was a bit worried because I am in the middle of trying to close.  And I am already panicking.  I didn't want to lose the house because the districts I was trying to get in was hard, and once a house on the market comes up, it gets scooped up real fast.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge



Message 4 of 4
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