Tell Mortgage Lender about Pregnancy??

Narumi

Hi Ladies,

 My husband and I are in the process of buying a new home in Orange County, and I am not due until over a month after closing. However, I have seen a lot of recent articles about lenders suddenly revoking loan approval due to maternity leave disrupting "projected income". My question is, am I legally required to tell our lender that I am pregnant, if we still won't have any children at the time of closing???

 Thanks in advance for all of the advice!

Mrs.LLG

I don't see what one has anything to do with the other, but that's just me. I don't think its any of their business.

AngelPack

It changes the amount they would require for your disposable income to approve the loan.  For a family of 2 they would want you to have xxx amount and for a family of 3 you need a bit more.  If you have enough to cover a family of 3 then no biggie, no reason to hide it.  If you are cutting it close in income then you should worry a little.  Some lenders are only concerned with your debt/income ratio and not disposable at all anyway.

I guess it would depend on my circumstances whether I would tell or not   Good luck!

tracelini

We didn't tell about ours...however it was a bit awkward walking into closing and being really pregnant (our whole process took like 8 months from start to finish) and seeing her face...haha

MelBee12

We bought our house back in February and I didn't tell our mortgage lender I was pregnant.  I mean it might have been obvious when we met!! lol but if it affected anything, they would have told us.