How Being Pregnant May Impact Your Mortgage

Job losses, a cutback in hours, and a bonus gone bye-bye are all unfortunate financial woes that are impacting borrowers' ability to close a loan. And now, you can add another one to the list: pregnancy.

Prospective homebuyers who experience a dip in income while applying for a loan -- including a parent who decides to take a leave of absence to take care of an infant child -- may be putting their mortgage at risk, reports The New York Times.

Like losing a job or a dropping commission salary, a salaried-worker taking time off to stay at home with a child may mean a temporary reduction in income for the borrower.

When on maternity leave, some mothers receive disability payments, but state laws and company policies determine the amount and length of this financial reimbursement.

"Basically, lenders are approving you for a specific loan based on a particular income you applied for," says Keith Stewart, a mortgage consultant with Northpoint Lending Group, Inc. "If there is any change in income up to the day of closing, the lender can deny you."