Conditional approval, unreimbursed business expense on previous years tax return kicking up ratios

phenom6 · ‎06-20-2012

I got a conditional approval, one of the conditions was that i averaged 1400 per month on my business expenses according to my last years tax returns and this kicked my ratios to 41/57.8% which is more than the allowed 55% - I have been getting reimbursed for business expenses starting february this year, and my paystubs prove it - i get reimbursed around 1600$ a month - last years paystubs did not have this, Would a letter from my employer saying im getting reimbursed for the past 5-6 months and one or 2 paystubs from last year showing i was not reimbursed be enough to satisfy the underwriter/ bank? I'm due to close in a week and am paranoid - please help.

Klesko · ‎06-23-2011

Is this FHA or other? Also were the expenses mileage mainly or something else?

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Conditional approval, unreimbursed business expense on previous years tax return kicking up ratios

Re: Conditional approval, unreimbursed business expense on previous years tax return kicking up rati