In between jobs? Home loan program will approve you if you have a guaranteed contract from new employer

Date: Tue, Apr 11, 2017 at 11:58 AM
Subject: In between jobs?
To: Jeffrey Allen>

Is your Borrower starting a new job and has a guaranteed contract for employment?

A home loan funder has your solution!

Desktop Underwriter and Manual Underwrite (Fannie Mae)

Income from future employment may be acceptable if all the following are met:

Must be underwritten by DU.

Purchase transaction.

  • The employment offer is non-contingent and is fully executed by the employer and accepted by the borrower. If there are contingencies to the offer, any contingencies or conditions of employment must be satisfied prior to closing.
  • Employment begins within 120 days after signing the note.
  • 1-unit primary residence.
  • PITIA reserves equal to the number of months between the note date and the start date of the new employment plus reserves required by DU.
  • An exception is required for delivery purposes.

Loan Product Advisor (Freddie Mac)

Income from future employment may be acceptable if all the following are met:

  • Must be underwritten by LPA.
  • Purchase transaction
  • Future income is the borrower’s primary employment and income source
  • The employment offer must be non-contingent and be fully executed by the employer and accepted by the borrower and indicate the terms of employment
  • Employment begins within 60 days after signing the note
  • 1-unit primary residence
  • The following must be documented:
  • adequate income and/or liquid assets to pay the monthly housing expense and other monthly liabilities between the Note Date and the employment start date, and
  • an additional six months reserves

10-day Pre-Closing Verification (PCV) verifying the terms of the offer letter or employment contract have not changed. If you are currently an approved Funding Broker, please contact your AE for more information regarding these exciting products and services! Thank you for choosing ABC Funding we look forward to working with you!


Not for consumer use, for Mortgage and Real Estate Professionals ONLY. This does not meet TILA or RESPA requirements for advertising. All programs offered by Secondary Market Investors and all Terms are subject to change without notice. This is not an Underwriting Matrix or Loan Approval. All Loans are subject to Terms and Conditions. For Our Approved Brokers and Lenders ONLY.

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GLOBALCROSSROADSCAPITAL.COM is a US Vet-owned IR media firm and is not a funder, lender, investor, free advisor, or broker-dealer. If you have a current need for the funding program above or any of the other listing as a courtesy on our blog feed.. you must be a client. To become a client, proceed to the CONTACT page in the heading of this blog feed or click on the orange url just above…and fill out the INTAKE FORM.


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