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Job lost
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Jim
Posted 10/11/2009 7:58 PM (#2029)
Subject: Job lost
Posts: 1
I have a new home being built in Dallas/Fort Worth Texas area and am about a month and a half from closing and I recently got laid off. I have very good credit and was approved which is why the house is being built. I also have funds avaiable that I can pay the mortage for a year if I am not able to find a job before then. I have several questions based on "If I find a new job before closing (say like a month ahead)" :

1) Do I have to go thru another qualification process?
2) My credit rating is not affected so does getting a new job affect the mortage interest rate I will get?
3) Will this delay the closing date (Like many people I am trying to close on or before Nov 30th for the first time home buyer tax credit)?
4) Prior to building I supplied pay check information and employment information and was approved which is why building is happening. Prior to closing do I have to supply emplyment information again? Does the mortage compnay check my employment again?

Assuming I cannot get a new job before closing can a co-signer an option and how does this affect closing date and quailifing for the first time home buyer tax credit?

Thank you
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