If your wife or significant other is pregnant, then you might want to leave her at home when you go to speak to the bank about a loan. Mortgage companies are looking askance at expecting couples as a higher risk for default since their income will likely temporarily fall while one or both parents take leave to care for the infant. In fact, some lenders are balking on loans even if the parents plan to return to work just a few weeks following the birth, reports the New York Times[1].

One mortgage broker explains that a pregnancy calls otherwise “guaranteed” income into question, since the economy is already uncertain and leaving a job, even temporarily, could mean that there is no employment to return to later, should complications arise. This means that if you are expecting and will actually be on maternity or paternity leave when you close, then you may need to look for homes you can afford on one salary since many lenders are rechecking loans right before the loan closes, and this includes calling employers to verify employment. Even mothers who receive disability or paid maternity leave may find their ability to pay a loan called into question, and closing may be delayed while the parent or parents reapply for a new loan under their new – however temporary – circumstances.

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