Posted on: 12th Nov, 2010 07:52 pm
I was making 14/hr last two year and this year I am making 16/hr and all this 3 years I have been working 40hr/week.At the second year I had to go to my origin country so I did not get pay for 2 months so my W2 amount is less than the first year.MY question is for mortgage qualification do they count on my current wage or the median income for last 3 years.My credit score is 729 and I want to put 20% down.
Hi hmbv,
As far as I know, the lender will take into account your current income rather than the median income of the last 3 years. As you have a good credit score and required down payment, I don't think you'll face problems in getting a mortgage.
Thanks
As far as I know, the lender will take into account your current income rather than the median income of the last 3 years. As you have a good credit score and required down payment, I don't think you'll face problems in getting a mortgage.
Thanks