Just Got Fired Before Closing? Take a Breath. Here’s What to Do.
Picture this. You are 35 days away from closing on a new construction home. You have been planning, saving, dreaming, and then you lose your job. It feels like the bottom drops out from under you. That is exactly what happened to one homebuyer on Reddit who shared their story. And honestly, it is a story I am hearing more and more right now.
With uncertainty in the economy and job market, this is becoming a real fear for buyers. If this happens to you, I want you to hear this clearly: take a deep breath. It is going to be okay. You still have options, and you are not alone.
First, Talk to Your Real Estate Agent or Builder
Your real estate agent and builder have seen it all. Job loss is a big curveball, but it is not game over. In many cases, your team can help you create a path forward. That might mean delaying closing, finding a short-term job to secure a loan, or switching lenders. If it is new construction, builders especially want to see their homes close. They may be more flexible than you expect.
Whatever the plan, communication is everything. Let your real estate agent or builder know what happened right away so they can guide you on next steps.
Next, Talk to Your Lender Immediately
Lenders check employment status again before closing. If they find out you lost your job without you disclosing it, that can shut everything down. But if you are honest and proactive, some lenders will work with you. If you can secure a new job offer before closing, even if it starts after your move, they may still approve the loan. If the original loan falls through, your lender may help you explore other options like co-signers or different loan programs.
What About Your Deposit?
This depends on your contract. If you have a financing contingency in place, you may be able to get your earnest money back. That clause protects buyers in case the mortgage falls through for legitimate reasons, including job loss.
But even if the deposit is at risk, do not panic yet. Many buyers have successfully renegotiated timelines or found last-minute solutions. You will not know your options unless you ask.
Can You Still Buy a House Without a Job?
In most traditional loan scenarios, lenders need to verify stable income. But there are exceptions. If you are buying in cash, or can show significant reserves, or have a guaranteed job offer in writing, some lenders will still approve your loan. It comes down to risk tolerance and the specific underwriting guidelines of the lender you are working with.
This is not about loopholes it is about finding a solution that works within the rules.
You Are Not Alone
In the Reddit post, the original poster was met with a wave of empathy and practical advice. Some people shared their own stories of being laid off right before closing. One person even said they got a new job within a week and still closed on time. That is the kind of resilience this market demands, and the kind of outcome that is absolutely still possible.
Final Thoughts
Losing your job before closing is heartbreaking. But it does not have to mean losing your home. You have time. You have options. And you have people who want to help.
Take a breath. Talk to your real estate agent. Talk to your builder. Talk to your lender. Most of the time, they can work with you to come up with a plan. And if you are not sure who to call, I have a network of experienced, trusted real estate professionals across the country. Just reach out and I will connect you. You are going to get through this. It will be okay.
