Posted on: 19th Jan, 2010 09:51 pm
I am startiing to look for a mortgae on a home i would like to purchase but do not have income tax returns for the past to years. I do however have proof of income thru bank statement. am i require to have returns or do any lending companies use proof of income instead of tax forms
In order to get a loan, you should have an income proof. You will have to furnish paycheck stubs, W2, etc in order to prove your income. If you do not have the required documents to prove your income, it will difficult for you to qualify for a loan.
Hi,
As far as i know in mostly loan required documetns , its neccesary to you have to show your income proof. Its almost impossible to get loan approval without giving proof of income.
Thanks & Regards.
gunz.ijjisatff :lol: :lol: :lol:
As far as i know in mostly loan required documetns , its neccesary to you have to show your income proof. Its almost impossible to get loan approval without giving proof of income.
Thanks & Regards.
gunz.ijjisatff :lol: :lol: :lol:
gunz....in fact it is absolutely impossible to get loan approval without evidence of income, unless one is using a stated income product or a no income product. typical loan products absolutely require evidence of income.
Tremendous dispatch but you procure to think how to monetize your blog. You can qualify for appropriate money with such a serious posts.
>>I do however have proof of income thru bank statement
Bank statements don't show your "net", however, "schedule c" from your tax returns does - so that's what the Underwriter is going to require.
There used to be alt-a mortgages that could be done with just "bank statements" - but not anymore.
Bank statements don't show your "net", however, "schedule c" from your tax returns does - so that's what the Underwriter is going to require.
There used to be alt-a mortgages that could be done with just "bank statements" - but not anymore.
