Are you switching jobs and worried about getting a home loan?
The Story: Jay Tolisano received a call from a potential home buyer to purchase a single-family home in Connecticut. The buyer wanted to close on the new home while in between jobs and was worried about how to pull that off. The buyer was moving into Connecticut for a new job and wanted to close on their new home, have a week to move in, and get settled before they started their new job.
Tolisano started the application process and pulled the pieces of the puzzle together, asked all the important questions, and uncovered the data he needed.
There was no way to use the customers current employment information as they weren’t going to be in that role for more than another few weeks and the customer had already given notice to their current employer. The customer had a non-contingent contract from the new employer and was starting one week after the proposed closing date of the home.
The Solution: Tolisano’s firm, CrossCountry Mortgage works with many lenders, and fortunately he had a solution. Due to the fact that the buyer had a non-contingent contract for employment, was starting employment within 90 days of the close date, and because the buyer had 6 months of post-closing reserves (6 months of their mortgage payment) in the bank, this was a home loan that could be closed. Tolisano could meet the buyer’s needs to close a week before starting their new job.
The devil is always in the details. When Tolisano gets a call from any homeowner, even if they say they were once declined elsewhere he always takes a shot, as his goal is to help the clients succeed.
There is always a story, and if you dig deep, ask the questions and listen, there is likely an answer and solution!