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I am working for CompanyX and my closing date on the house is on 18th August. I just now got a job offer from CompanyY and I have accepted it. My start date is August 29th. I dont want to jeopardize my house closing because of the job change. Verification of Employment (VOE) is still pending but I think it should be done by 15th August. I have to serve 2 weeks notice.

I will certainly not have any paystub from the new company before closing and I am not looking forward to letting the mortgage company know that I am switching jobs.

If I resign on the day or after my VOE is done but before closing, will it be possible that my employer contacts the mortgage company informs them that I resigned?

If I resign before VOE, will my current employer tell the mortgage company that I have already resigned?

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    You might want to tag this with your country, as things are likely to differ depending on where in the world you are – Gagravarr Aug 12 '11 at 9:56
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    Perhaps you can ask HR from your new Company Y to supply a letter indicating that you are working for them. – Rick Aug 12 '11 at 11:21
  • Did you ever find an answer to your question? In that same predicament some 5 years later. – user49162 Oct 6 '16 at 2:48
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I had something like this in 2008. I we placed an offer and it was accepted in Feb, in March I was nearly laid off so I went out and found a new job preemptively. It was better paying than my current by quite a bit. My banker told me that if I did leave my job before the closing she was pretty sure the underwriter would pull out even though the new job paid more. I had 4 years on the current job and that reduced my risk.

I was low 700's at the time. I am guessing if you have better credit or a larger down payment then it may be different. I was getting a great rate >4% and 10% down. Talk to your banker. Find out if they are getting an underwriter and explain the offer. They are people and the banker has a lot invested in your mortgage already and probably does not want to lose their fee either.

  • my situation is just a little different. i am getting great rate as of now while putting minimum down payment (3.5%). My Credit Scroe is around 720. Never late on any payment. I did talk to my mortgage officer and she suggested not to take the risk of explaining it to the underwriter. If you know abt the VOE process and can throw some light on it, it will be greatly helpful. – Mark Aug 12 '11 at 19:05
  • @Mark - Sorry thats the same thing my banker said. What is your boss going to think about you leaving? Can he wait to file the forms with HR until after your closing day? Will the new job push it back a week? Small side note I decided to get the house since i love my job. The new job came back a week after i closed with an offer 10% higher. – user4127 Aug 12 '11 at 19:40
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I had to do something similar when getting a new rental home earlier this year, and both my soon-to-be-ex and upcoming employers supplied verification of employment to the rental company.

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