Need a lender who can close with employment contract
Hello! I have a situation where I have a borrower who has been an RN for 5 years, and worked the last 4 at the same hospital. She is waiting to close on a new home, but the problem is she had to move for her new position as an ER nurse at a new hospital, and she does not start until the 24th. She has a detailed employment contract letter which spells out all her wages, guaranteed hours, signing bonus, etc. She is making $10/hr more with this new job. I keep running into lenders who will not do anything she has paystubs from new job. I do not want to make her wait a month to close....she needs to get in the house and get settled. Any ideas on lenders (in Indiana) who can do this? I used to do this all the time in conforming world due to job transfers, moves, etc. Thank you for any suggestions.
October 23rd, 2010 - 12:37
Can you give us more information….. LTV, DR, Credit Scores, property type. I’m gathering from your last comment that this customer is B/C & not conforming. Either way, you just need an intelligent underwriter. If your customer is in the same line of work & she has all the documentation including a letter of employment signed & accepted by both her & the new employer then this is a slam dunk deal. Give us a little more info & I’m sure we can find a lender for you. Are you FHA approved?