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Old 08-13-2014, 08:12 AM   #1
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Default pilot mortgages

So finally trying to buy a house, after musing around with different lenders that could not figure that I'm a pilot and don't work 40hrs a week like a normal mcdonalds employees I was able to get a pre-approval and had earnest money paid on a new construction. Now after all that I get a call back saying they denied me in underwriting because I "work" 32.5hrs every 2 weeks. They do not understand what guarantee and add pay is even when I sent them a lamens term and full time employee verification.

Anyone else have this problem when buying their house? If you did how did you push through it, as it seems the people the builder chose with their loan processing at the bank are idiots versus the original ones I had.
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Old 08-13-2014, 08:31 AM   #2
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I had this exact same problem a few years ago. It took a long phone call explaining what it is to be a pilot. I was working through USAA, so they really took the time to try to help and understand. But even with the good customer service it was a huge pain and took a few days to work out.
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Old 08-13-2014, 09:41 AM   #3
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Try to get someone from payroll or HR to send something in writing explaining that the hours are equivalent to full-time employment at your company.
Had a problem last year with the pay stub since ours is difficult to decipher. Contacted HR and they sent something which was satisfactory.
Our mortgage broker used Provident Funding and they were very hard to deal with. I would not use them if possible.
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Old 08-13-2014, 10:38 AM   #4
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Thanks, yeah I finally went with Wells Fargo but now they're the ones giving me hell about it. I'll see what HR has for them.
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Old 08-13-2014, 11:34 AM   #5
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Thanks, yeah I finally went with Wells Fargo but now they're the ones giving me hell about it. I'll see what HR has for them.
Oh Lord, not WF, you've got quite an experience ahead of you...
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Old 08-13-2014, 12:21 PM   #6
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Do yourself a favor. Contact Dave Devine at National Bank of Kansas City. Not only will you get the lowest rate on the planet, but they will push through any hiccups along the way. NBOKC has a long history of working with military and pilots in general and should be able to help you out.
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Old 08-13-2014, 01:43 PM   #7
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Default pilot mortgages

I had the same problem several months back when I purchased my home. I used my acceptance letter from United that had my pay rate and the fact that we work under the UPA. I highlighted the section of pay and where and when the pay raises would be. I then had to send several pay stubs to show them how this all correlated. It took a few days but then went through with no problem. Good luck!
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Old 08-13-2014, 04:03 PM   #8
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Default pilot mortgages

-1 for Wells Fargo, your concentric circle of hell is just starting to spin. If you haven't signed - run!
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Old 08-13-2014, 04:05 PM   #9
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PS. Why get wrapped up on hours worked? Show them hourly rate and monthly guarantee, done!
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Old 08-13-2014, 04:05 PM   #10
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Do yourself a favor. Contact Dave Devine at National Bank of Kansas City. Not only will you get the lowest rate on the planet, but they will push through any hiccups along the way. NBOKC has a long history of working with military and pilots in general and should be able to help you out.
I have a mortgage with NB of Kansas City and am in the process of getting another. Use them. They will beat every rate you will find elsewhere and probably give you cash at closing.
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