new york home mortgage

Now, W2 wage earner qualifies as easily as a business owner, because they can reasonably declare their income. When I say reasonable to state their income, I do not mean dishwasher at a fast food joint which says that he receives $ 10,000 each month. Yes, that is unreasonable? Must be consistent with the national average income of a particular profession or trade. Even if there are sub prime lenders also want to see a minimum 660 credit score to qualify for a 100 per cent income mortgage program.

These programs are excellent for Self Employed or self-made millionaires that have difficulty documenting their income. Beware of mortgage brokers that ask you to state your income is more than you can earn each month. Over a sure-fire way of stating your income jeapordize your financial future. When looking into stated income mortgage program, be sure to deal only with experienced mortgage professional with a good reputation.


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