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I need help

Posted on: 18th Dec, 2012 10:30 pm
ok so I have a big question....my wife has a USDA loan in her name and she has a credit score in the middle 600's so my question is we have already locked in our rate at 3.75%, done the home inspection, apprasal, pest inspection, and got home insurance, now they need my w2's and I just started a new job last week and they need my pay stub this friday, but i dont understand why they need my information if im not on the usda loan, but my ? is..with us already have all the above done, is there a chance we will get denied, also we have already gotten a preapproval letter as well? thank you so much!
I am not an expert in USDA, but I believe there are income restrictions. If you type in on google USDA.gov you can find the right answers to your questions. Good luck
Posted on: 18th Dec, 2012 10:12 am
USDA income limits are determined by all members of the family who are over 18. Lender is trying to make sure you don't exceed the limits.
Posted on: 18th Dec, 2012 02:26 pm
Hi Guest,

If you're not on the loan and the deed, then the lender shouldn't ask for your pay-stubs. You should get in touch with the lenders and check out the whole matter. You can even ask for a clarification.

Take care.
Posted on: 18th Dec, 2012 11:27 pm
The only thing I got from them when I asked was they need to know the income of everyone who is able to work in the house because of the USDA loan we got..I guess to maybe make sure were not tryin to scam the system or something?...does that sound right?
Posted on: 18th Dec, 2012 11:41 pm
May be that can be the case. But normally, if you're not on the loan, then the lender will not inquire about your income.
Posted on: 20th Dec, 2012 07:19 pm
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