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Trying to buy a home. Husband transitioning out of Military, Wife has lapse in employment.

We submitted our application for a VA loan. My husband is not getting out of the military until October, stationed in CA. I worked full-time for 4 years until I had our daughter in January. I was taken off work last September due to health complications and did not go back after my maternity leave because I knew we would be buying a house and moving home to MD. We were planning on closing on a house by September, so our daughter and I could take our time moving and my husband would just come when he gets out of the military in the beginning of Oct. We both have letters of guaranteed employment upon our return in MD (which will not happen until he have a house to move into). Loan officer says we each need to have a pay stub from future employers prior to closing, but why when my husband wont be getting out for at lease another month? And she said they may not count my income at all from my future job (which is the same place that I worked in MD before we got stationed in CA) because of my lapse in employment.My question is:Why can't they just use the letter from my husbands future employer? Why do we have to wait until he gets out of the military?Because it is a VA loan, shouldn't they count my income since the only reason I left that job to begin with was because of the military?If they accept future income from me, and insist my husband needs to have a pay stub from future employer prior to closing, could I get a different job that pays more (even though they thought I was going to the old company) and qualify on my own even if the pre-approval was set up for me to go to the old company?Sorry my post is so long. We are just lost and could really use some help! Thank you~ by jtyler_09 from Desert, California. Jun 9th 2011 Reply


adam diaz (adiaz805)
#218 ranked lender in California - 1 contribution

Call me I can help 8058159640

Jun 9th 2011
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Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions

Good morning: sounds like the loan officer you are dealing with does not know all the in's and out's with VA loans. I am a military loan specialist and I can help with your income issues specifically when dealing with a VA loan. I also offer a special discounted mortgage program called homes for heroes. check it out at www.homeforheroes.com. I would love to help you out please contact me at gianni.cerretani@fcmhomeloans.com

Jun 10th 2011
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,391 contributions

While I don't know your exact situation, the general rule about jobs and future employment are as follows. In order to use qualifying income on jobs you have actually NEVER working a single day at, you must have an employment CONTRACT. Very few people ever sign or get employment contracts. Most have OFFER LETTERS. With the more common offer letter, you must actually start working at the job, and be able to provide the lender with 30-days worth of pay stubs prior to closing. I would have to read the "letter of guaranteed employment", but I suspect it doesn't meet the contract guidelines, and is being treated as just an offer letter.

Jun 10th 2011
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I can have a contract if that is what is needed. My job is at small non-profit organization and they have been holding my job for 2 years. My family also owns a large (over 100 employees with two locations) business and that is where my husband will be getting his letter. They will also provide a contract. But what if he gets offered a better job and takes that instead of working with our company? So, with a contract we would not need to start work before closing?

Jun 10th 2011
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Randy Raque (rraque)
#8 ranked lender in Kentucky - 7 contributions

Call meI can help866-766-1920

Jun 10th 2011
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