Furloughs impact on lending

[Kevin Zolea]

Hi all,

I recently just went under contract on a duplex that I will be house hacking. I work for the state of NJ and due to the impacts of COVID-19, our state budget has gotten crushed. Last night I got word that they came to an agreement with the Governer's office that we will have some furlough days but there will be no layoffs. So between June 29th - July 31st we have to take some variance of 10 furlough days. Essentially, I would not be losing any money and I will actually be making more due to the CARES ACT.

My question is should I be concerned about my loan not going through because of this? Is this something I have to tell my lender about? Or am I just worrying for no reason at all since I won't have any decrease in pay and my job is guaranteed? Any guidance would be greatly appreciated!