Posted on: 20th Jul, 2009 04:36 pm
We are in the process of purchasing a new home, we have already completed the closing documents last week and we get the keys and the house will be recorded tomorrow.
I am a "travelling" healthcare worker, which means I complete 13 week assignments then sign on for the next assignment. I just completed my 13 weeks last week, and am in the process of finding another assignment which can take a couple days to 1-2 weeks. I am "employed" by the travel company, but do not get paid until I am under contract for assignment. SO, my question is, when will the lender obtain verification of employment (or perhaps it is already done since we already signed the closing docs?). Also along with that, if they were to verify tomorrow before recording, will the fact that I am employed but not under contract cause last minute problems?
I should say that even if I were to not be able to find an assignment, we would still be able to make the mortgage payments, and I could find another (permanent) position tomorrow if I needed to. This is not my concern.
I am a "travelling" healthcare worker, which means I complete 13 week assignments then sign on for the next assignment. I just completed my 13 weeks last week, and am in the process of finding another assignment which can take a couple days to 1-2 weeks. I am "employed" by the travel company, but do not get paid until I am under contract for assignment. SO, my question is, when will the lender obtain verification of employment (or perhaps it is already done since we already signed the closing docs?). Also along with that, if they were to verify tomorrow before recording, will the fact that I am employed but not under contract cause last minute problems?
I should say that even if I were to not be able to find an assignment, we would still be able to make the mortgage payments, and I could find another (permanent) position tomorrow if I needed to. This is not my concern.
They usually look at the last 2 years of tax returns to see what you average. When you are self employed you are never guaranteed work, but the lender understands that if you have been successful in the past you will probably do well in the future also.