If you are trying to purchase a house using part time job income, be aware of this…
Incidentally it works the same with bonus income. The underwriter will want to see that you have a 2 year history of receiving the bonus and will take a 2 year average of it to add it to your income.
…So, in other words if a loan officer tells you that you need more income – you can’t just run out and get a part time job to satisfy this need. …You wouldn’t fulfill the 2 year work history on it.
You do have other options though… If you are in this situation – please give me a call or drop me an email. I would love to try to help you.
Brett
To sign up for my weekly mortgage quick tips – CLICK HERE.
If you are thinking about buying a house, but you aren’t really sure if it’s…
Here is a breakdown of the maximum seller help amounts by loan program… Program: Conventional…
Your property tax bill usually comes out in late November, or early December. There are…
If you want to acquire rental properties, but you are having issues proving your income…
If you receive money from the State or a County sponsored organization for providing foster…
FHA gift questions come up often. I wanted to give you the rules on FHA…