Posted on: 24th Mar, 2009 04:25 pm
When does the lender do a verification of income?
Do they all do verbal verifications?
I have heard they do it even up to 2 days before closing. Is this true across the board or does it depend on the lender?
Do they all do verbal verifications?
I have heard they do it even up to 2 days before closing. Is this true across the board or does it depend on the lender?
Hi bmginnow,
The lender will verify your income while pre-qualifying you for the loan. Yes, he will also check your income just 2 days before the closing. This is true in case of all the lenders. So if you take a auto loan just before the closing of your mortgage, it may affect your chances of getting a loan.
Thanks
The lender will verify your income while pre-qualifying you for the loan. Yes, he will also check your income just 2 days before the closing. This is true in case of all the lenders. So if you take a auto loan just before the closing of your mortgage, it may affect your chances of getting a loan.
Thanks
a smart lender will do a verbal verification just prior to closing.
wait....james...verbal voe does not have anything to do with a car loan. how did you make that leap?
bmginnow, as long as you're still employed you'll be okay.
wait....james...verbal voe does not have anything to do with a car loan. how did you make that leap?
bmginnow, as long as you're still employed you'll be okay.
a smart lender will do a verbal verification just prior to closing.
wait....james...verbal voe does not have anything to do with a car loan. how did you make that leap?
bmginnow, as long as you're still employed you'll be okay.
yes, this post was me...i forgot i had logged out earlier.
wait....james...verbal voe does not have anything to do with a car loan. how did you make that leap?
bmginnow, as long as you're still employed you'll be okay.
yes, this post was me...i forgot i had logged out earlier.
Maybe I can bring some clarification to the subject....
Verification of INCOME is done when you supply copies of your last two years' W2s and current pay stubs.
Verification of EMPLOYMENT is done just prior to closing as George suggests.
Verification of INCOME is done when you supply copies of your last two years' W2s and current pay stubs.
Verification of EMPLOYMENT is done just prior to closing as George suggests.
