When it comes to calculating my income for purposes of qualifying for a mortgage loan:
Q1) What sort of job do I need 2 years history in and what sort of job don’t i need 2 years history in?
Q2) What sort of investments DO count toward my income?
Q3) What about self employed? If i ran my own business does it also need a 2 year track record?
1) You need a permanent income which involves a paycheck which could be verified from your employer or bank.
2) Pension Funds, investments in bonds, stocks, cash in bank, real estate all count towards potential income or net worth.
3) You need a 2 year track record even if you are self-employed.
July 29th, 2010 at 9:24 pm
1) You need a permanent income which involves a paycheck which could be verified from your employer or bank.
2) Pension Funds, investments in bonds, stocks, cash in bank, real estate all count towards potential income or net worth.
3) You need a 2 year track record even if you are self-employed.
References :