My wife was recently furloughed and we're about 3 days from closing. Will this affect us?

It could. You didn't say if your closing was for a purchase or for a refinance. Typically, a lender will call your employer a few days before the closing. If they made the call before the furlough was initiated, it is possible they were given an affirmative answer to the question, "Is she employed?" If you still want to go through with the transaction and you are 100% positive you can and will make the payments, and the lender does not stop the transaction, and your wife was NOT terminated, then you have a decision to make If you can easily make your payments with a temporary reduction in her pay, then go with your gut. Typically, once a loan is made and all the payments are being paid on time, lenders tend to 'go with the flow'. Now, if you find yourself unable to make the payments after you close, then you could have bigger issues. This is where I tell you that you are supposed to notify your lender when any changes in your employment or finances change to the worse. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.

Yes, no, and maybe (sorry). Too many missing variables missing here. Lenders are required in the last few days before closing to re-verify employment, so they probably will find out. Do you need her income to qualify? If not, no problem. Quick paperwork shuffle, and you are still good. If you need her income, do you even want to move forward? Lastly, you are supposed to disclose everything, so knowing about the loss of income needed to qualify, yet still closing can potentially be considered mortgage fraud. My advice is reach out to your Loan officer to discuss your situation. Good Luck. I lend in MN WI IA SD ND. Find me at VAMortgageMN.com - NMLS274132