Yes, You Can Still Get a Mortgage if You’re Pregnant

The New York Times ran an important story this week [concerning](https://killingwallstreet.com/yummy-foodplaces-carnaby-street-in-soho-london/) pregnancy and mortgage approvals. Titled “[Need a Mortgage? Don’t Get Pregnant](http://www.nytimes.com/2010/07/20/your-money/mortgages/20mortgage.html?_r=1&ref=your-money "New York Times story on pregnancy and mortgages")“, the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing. NBC’s The Today Show picked up the story as well, as shown [in the 3-minute clip above](http://today.msnbc.msn.com/id/26184891/vp/38340602#38340602 "The Today Show on pregnancy and mortgages"). The crux of the issue is that maternity/paternity leave often leads to a change in household income and mortgage lenders will no longer assume one or both parents will go back to work full-time.  The loss of income can raise a household’s debt-to-income ratio to unlendable levels. Now, your loan officer cannot ask you about a pregnancy; such questions would be in violation of [Equal Credit Opportunity Act](http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre15.shtm "ECOA"). But he _can_ ask if whether you expect your future employment and income situation to change. This would be a perfect time to broach the topic. And you should. If you’re found to have withheld employment and income information from your lender at a later date, it could result in an immediate loan denial plus a loss of earnest monies paid. Across both pieces, though, the prevailing message is this: Families concurrently planning to (1) have a baby and (2) buy a home should be up-front and forthcoming with their loan officers. Financing is often still available for families expecting an addition — there’s just some extra paperwork though which to work. Be prepared for that paperwork and you’re more likely to get your loan. Related posts: 1. [Your Mortgage Approval Isn’t Final Until It’s Funded](http://www.michaelhaighteam.com/mortgage-guidelines/home-loan-approval-get-approved/ "Permanent Link: Your Mortgage Approval Isn’t Final Until It’s Funded") 2. [How Today’s Employment Data Is Hurting Mortgage Rates](http://www.michaelhaighteam.com/uncategorized/how-todays-employment-data-is-hurting-mortgage-rates/ "Permanent Link: How Today’s Employment Data Is Hurting Mortgage Rates") 3. [The New Conforming Mortgage Guidelines, Effective September 1, 2009](http://www.michaelhaighteam.com/uncategorized/the-new-conforming-mortgage-guidelines-effective-september-1-2009/ "Permanent Link: The New Conforming Mortgage Guidelines, Effective September 1, 2009")