Background on the mortgage: it is a 100% financing loan from Regions (not a USDA loan). The max salary to qualify for the loan was something like $55k, so she and I made too much money to be on the loan together. We put the mortgage in her name and I bought her auto loan from her at the bank’s request. When we started on this, she made less than the $55k. She just got told that she is getting a 15% raise that will put her well over the maximum salary effective this payday (this Friday).
Up until this point, everything has been going smoothly with the mortgage process. We close 3/19. Already done with the inspection, appraisal, survey, etc.
Will the bank be able to see that she makes too much money to qualify the loan before we close? We are excited about her raise, obviously. She more than deserves it. But we are nervous this might torpedo the deal right before the finish. What should we do, if anything?
Submitted March 05, 2018 at 02:11PM by DoNotTrustMyWord http://ift.tt/2oHpOnW
