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What Lenders Are Looking For, And When One Year of Returns Is Enough Navigating the mortgage process as a self-employed individual often requires more paperwork than for traditional W-2 employees. But don’t worry, if you don’t fit into the traditional…
Alimony and child support can count, but only under the right conditions. When applying for a mortgage, every source of income matters, especially for borrowers who rely on alimony or child support. Here was want to clarify, and help define…
How Lenders View Retirement Income in Mortgage Applications When it comes to qualifying for a mortgage, retirement income can be a reliable and acceptable source, as long as it meets specific criteria. This includes income from Social Security, pensions, and…
How Mortgage Lenders View Tip Income For workers in industries like hospitality, personal services, and food service, tip income can represent a substantial portion of total earnings. When applying for a mortgage, tip income can be used to help qualify,…
How Mortgage Lenders Treat Stipends and Per Diem Pay For professionals in fields like healthcare, transportation, or consulting, per diem or stipend income can make up a significant portion of their total earnings. When it comes to mortgage qualification, these…
A bank statement loan made homeownership possible when full-doc loans said no At Innovative Mortgage Brokers, we believe that your mortgage should reflect your reality, not just your tax returns. That was exactly the case with a recent self-employed client…
Mortgage Tips for Temp Agency Workers In today’s job market, more people are choosing flexible work arrangements through temp agencies and staffing firms. Whether it's in healthcare, IT, manufacturing, or professional services, temporary work is no longer just a short-term…
How Buyers with Commission, Overtime, or Irregular Hours Can Still Qualify If your paycheck changes from week to week, maybe because you earn commission, tips, or work variable hours, qualifying for a mortgage might feel confusing. But the good news…
First Responders - How to qualify for a home loan even with inconsistent paychecks Being a first responder comes with long hours, emotional stress, and an unshakable commitment to public service. But when it comes to buying a home, your…
The trucking industry is the backbone of American commerce, keeping goods moving across the country 24/7. If you're a truck driver looking to buy a home, you might be wondering how your unique income structure affects your ability to qualify…
