New job in the middle of buying a house!?

kaitlyn&henry · January 2012

We are sooo close on closing on this house and we have hit another snag...

my DH has been offered a job he interviewed for a few months ago he didnt think he would get but went for it anyway since its a pay raise and great benefits. The problem i:

1. they dont have a definitive start date...they told him to wait to put in his two weeks because they are projecting he will begin/start training the middle to end of feb.

2. his new job isnt exactly the same field as his current and past jobs. It eventually will be but everyone in the company has to know and work this particular position before specializing.

we are supposed to close on or before feb 15. Can we try to push the process along and hope he doesnt start his new job till after then....or wait and push back closing and hope we can show stability and explain how his new job is/will be related to his current line of work?

breaness · January 2012

I would talk to your loan officer. In our case they told us to hold on ANY big changes until after settlement. If it's possible, I would try to wait on this too. But that being said, if the job is a huge opportunity and not worth slipping away, obviously you wouldn't want to turn it down. Just be open and honest with your loan officer. It will probably mean more work for them (and you) but I don't think it'd be a deal breaker.

jengratz · January 2012

My husband and I both started new jobs before actually closing on our house and we did, in fact, close. Here's our timeline in case it helps:

1) August - Husband gets offered new job, has to relocate.

2) Early September - whirlwind trip, find house, make offer on house (it was a shortsale). Husband starts new job.

3) Late September - I leave my job (I could have relocated and kept my job, but I found out some troubling information about the organization I was working for and was not willing to stay - even if it meant we wouldn't be able to buy a house)

4) Early October - I start a new job.

5) Early/Mid November - We both have 2 paystubs from our new jobs.

6) Late-November - We pull offer on shortsale and make offer on a different (non-short sale) house.

7) Late December - Close on non-short sale house.

My loan officer kept telling me that all we needed were 2 paystubs from our new jobs in order to close, we ended up with more than that, but as soon as we both had our 2 paystubs he started with all of the processing that could be done prior to actually closing.

MNVegas · January 2012

Definitely talk to your loan officer. We had a house we sold early last year and the buyer decided to change jobs 2 weeks before closing. Needless to say this caused a huge mess and buyer's original loan fell thru. So we were stuck with having to wait for him to find other financing or put the house back on the market.

Buyer fortunately did find another bank to finance and closing took place about 3 weeks late.

Try to get the closing moved up and see if your DH can start new job later.

dramaz · January 2012

Personally, I wouldn't make ANY major changes AT ALL until after you close. It just isn't worth the extra stress, IMO. But it also depends on your loan program - are you going conventional or FHA/USDA? Talk to your LO first, but based on mine and H's experience, I would wait.

Justinlove · January 2012

As already suggested, talk to your LO. Our neighbors had a sale fall through because the buyer changed jobs and the original lender dropped him. Since they could not qualify on the spouse's income alone, they were unable to secure a loan. Luckily, the house was so desirable, our neighbors had another buyer in within a few days of relisting.

curlylocks3 · January 2012

Ditto on talking to your loan officer. DH switched jobs right before we started looking but it was within the same field, doing almost exactly the same thing, with a (slightly) better salary. Even with all that they told us there was still a chance it would fall through.
Fortunately our closing got pushed to almost 4 months after his start date and so when we had to submit our final paperwork he had 4 months worth of paystubs to show.
I hope it goes well and all works out for you.

vanillacourage · January 2012

They will call the employer listed on his paystubs a couple days before closing, to verify employment. So, even if he hasn't started the new job yet his current employer could very well say "yes, he is employed here currently but has put in his notice and his last day is X".

New job in the middle of buying a house!?

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