Get a Fast Quote: Click Here This blog will discuss and cover FHA guidelines on income and employment gaps. We will detail the FHA guidelines on income and employment gaps for homebuyers. Homebuyers do not need to be employed in the same job for the past two years to qualify for FHA loans. FHA guidelines…
This article will cover qualifying for a home loan with overtime income and other income. Homebuyers can qualify for a home loan with overtime income and other non-traditional income if certain conditions are met. Borrowers can qualify for a mortgage with overtime income and other income. However, lenders want a two-year history of borrowers making…
In this blog, we will cover and discuss what can be used as income for a mortgage. Other income such as overtime, part-time, bonus, tip, or other income refers to extra income or non-traditional income that what can be used as income for a mortgage. Besides the full-time that you earn, non-traditional income can be…
This ARTICLE Is About HUD Self-Employment Guidelines On FHA Home Loans HUD Self-Employment Guidelines allow self-employed borrowers to qualify for FHA loans. The borrower needs to have been self-employed for the past two years. Income and employment are one of the most important factors when qualifying for a mortgage. Lenders want to see and believe…
In this article, we will cover the frequently asked question by homebuyers on how do mortgage underwriters calculate income when processing and underwriting a mortgage loan? Credit and income are the top two determinants for mortgage lenders in assessing risk. Mortgage lenders view credit scores and payment history because of the past as a good…
In this blog, we will cover working two full-time jobs to qualify for mortgage. The 2008 Real Estate And Financial Meltdown affected millions of hard-working Americans. Countless self-employed business owners were forced to shut down the businesses they had had for many years. Millions of hard-working Americans have lost the jobs and careers they have…
In this blog, we will cover and discuss the verification of employment and income mortgage guidelines. Employment, income, and credit are the most important factors in determining mortgage loan approval. Between the two, income is probably more important than credit in determining mortgage approval. Borrowers can have prior bad credit and low credit scores and…
Many people are perplexed why are people fleeing Illinois like never before in history. Illinois is a great place to live and raise a family but a bad place to live when it comes to your financial security and future stability. Illinois is in financial trouble. Never in history has Illinois had such a budget…
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