Hi My name is Philip Ganz and I have been one the nation's top producing loan officers since 2001.
I made this video to help you understand how short term disability, while on maternity leave, can affect your ability to purchase a home and its impact on your first mortgage payments.
In regards to short term disability, lenders will look at two things; employment and income.
Lets look at employment. You must provide written confirmation of your intent to return to work. The lender will then verify this with your employer.
Now, having a baby can be a very exciting time in your life, but be careful what you share on social media sites, like Facebook. If you are planning on leaving your job before your benefits expire and happen to share this with the world wide web, your loose lips could sink ships...or in this case, the home you want to buy!
Now, when lenders look at your income, they will want to know if you will return to work before or after the first mortgage payment is due.