Mortgage On Maternity Or Medical Leave
You can qualify while on maternity, parental, or short-term medical leave. Conventional loans treat you as employed once your employer confirms the leave, and FHA can use your pre-leave income if you are back by the first payment date.
What you need to qualify
Each item below is a requirement of conventional loans, FHA, or at least one other program we offer.
- Leave that is temporary, such as maternity, parental, or short-term medical leave.
- Your written confirmation that you intend to return to work.
- Employer documentation of your expected return date.
- The right to return to your job after the leave.
- Back at work by the first payment date to use your regular pay.
- Extra savings, if needed, to top up reduced leave pay.
You count as employed
Regular pay when you return
Savings fill the gap
FHA works too
Paid or unpaid leave
No questions about future leave
Can You Get A Mortgage On Leave
Yes. Temporary leave for a new baby or a short-term medical reason does not have to stop a home loan.
Conventional loans cover maternity or parental leave and short-term medical disability. You may be paid or unpaid while you are out. If your employer confirms you are on temporary leave, the lender must treat you as employed.
If you will be back by the first payment date, a conventional loan can use your regular pay. If not, savings can top up your leave pay, up to your regular pay. For time away from work that is not leave, see our employment gap home loan.
FHA works in a similar way. Back by the first payment and your pre-leave income counts, or extra savings beyond required reserves can supplement your current income up to your pre-leave pay.
Why choose Saxton for a mortgage on leave
For new parents and borrowers on short-term medical leave who do not want to put the home search on hold.
You Count As Employed
On a conventional loan, once your employer confirms you are on temporary leave, the lender must consider you employed.
Your Regular Pay Counts
If you return to work by the first payment date, a conventional loan can qualify you on your regular pay, and FHA can use your pre-leave income.
Savings Fill The Gap
Going back later? Available savings can supplement reduced leave pay, and the total cannot be more than your regular pay.
Paid Or Unpaid Leave
You may or may not be paid while on leave. Conventional loans cover maternity, parental, and short-term medical disability leave.
No Questions About Future Leave
If you are not on leave now, the lender must not ask whether you plan to take leave in the future.
Furloughs Are Different
On a conventional loan, a furlough or layoff started by your employer is not temporary leave. We will tell you where you stand.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about buying a home while on leave.
Yes. Conventional loans cover maternity and parental leave, and FHA covers a temporary income cut from similar leave.
If you are back at work by the first payment date, yes. A conventional loan can use your regular pay, and FHA can use your pre-leave income.
Savings can top up your reduced leave pay, as long as the total does not exceed your regular pay. FHA allows extra savings beyond required reserves the same way.
Your written intent to return to work and documentation from your employer of your expected return date, such as a letter or a printout from the employer’s system. A verbal verification of employment is also required on a conventional loan.
Yes. Borrowers on temporary leave may or may not be paid while away from work.
No. If you are not on leave now, the lender must not ask whether you intend to take leave in the future.
On a conventional loan, if short-term disability payments will drop within three years because they convert to long-term benefits, the long-term amount is used to qualify.
Find out what you qualify for
Tell us about your leave and your return date, and we will show you how to qualify now.
Get Pre-QualifiedLoan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.