FHA Loan Approval Question

[kovyfalcon27]

What is the name of your state? Pennsylvania

Hello,

I am in the process of getting an FHA loan approved for the purchase of a house. The house has already been picked out and an offer has been accepted at 85,000, I am just trying to get through closing. My question is this, I recently started a new job and gave my lender an employment verification letter which says that I am contracted to work 32 hours a week at 25 dollars an hour. Based on the type of work I do, I am going to have trouble getting 25 hours a week for the next couple of months. I talked to my lender about this and he said that they would accept my first paycheck no matter what to approve the loan and then I could get them a paystub with at least 25 hours on it up to 30 days after closing. What could happen to me if i fail to get them the paystub with at least 25 hours on it, could i lose the loan and be thrown out of the house???

Thanks in advance for any help anyone can offer.

[Grandma's house]

Call your title co. and ask them to fax you proof this loan has FUNDED. There are 2 kinds of states. A wet funds state (Ohio for instance) that does not allow a loan to close (signing the mortgage, deed and move into that house) unless ALL conditions, pay stubs, appraisal corrections, verification of employment etc...to be on a "clear to close status" the lender FUNDS the loan and THEN the title co. can legally close it.

A dry funds state...WILL let you close the loan with outstanding conditions and THEN get funds.

Why??? I do not know. Too many times I see brokers that jump the gun and the buyers move in the house thinking their mtg. is a closed deal. Worse...I see a refi. that is assumed closed by the borrower and ISN'T and they stop paying their payments and the broker/lender is squirming to get it bought to FUND the darn thing. They sometimes DON'T for such things as that paystub.

CALL THE TITLE CO. AND ASK IF IT HAS ACTUALLY FUNDED...AND GET PROOF OF IT.
IF SO YOU ARE FINE...IF NOT...YOU ARE NOT FINE.