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In Escrow, offered promotion

I need advice.  I was offered a promotion at work.  Same company, better pay/position.  I am in escrow and scheduled to close by the end of the month.  My effective date for the new position could possibly fall during the escrow process.  I want to take the promotion (of course!).  I qualified for the mortgage already, so a promotion won't help me obtain financing I didn't already qualify for.  Am I at risk of losing this mortgage over a promotion?  Do lenders frown on title changes while in escrow, even if it is for a promotion/better pay in same employer?
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December 11 2012 - US
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Answers (4)

You'll be asked if there are any material (adverse, detrimental) changes at closing.

Though getting a raise/promotion is material, it's not detrimental, and thus acceptable.



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December 12 2012
I don't think it will be an issue, but you should discuss it with your lender.
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December 12 2012
I don't think you will have a problem. Unless your pay structure changes from, for instance, an hourly or salaried employee to a commissioned employee. However, the first call you should make is to the mortgage professional you are borrowing with...he/she should be able to answer any questions.
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December 11 2012
Congratulations on the purchase and the promotion! I don't see how a promotion will affect the purchase or mortgage. You may be asked if you are still working for ABC company and you can truthfully answer yes. If they ask about your wage tell them honestly that you have received a pay increase. If you provide a recent pay stub at closing, it will indicate your wage/salary, not your title.
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December 11 2012
 
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