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Home loan help - is this an issue?!

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MissAustralia
New Member

Home loan help - is this an issue?!

First a little about me. 28, scores are 762, 737, 721. Squeaky clean credit history, been at my job a little over 2 years, same position. Pay raise every year since I've been there. Only debt is $242.00 a month fr my car. 8k in the bank

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frugalQ
Valued Contributor

Re: Home loan help - is this an issue?!

Your current income does not have to match prior year's W2. The pay that's on your last 30 days worth of pay stubs is what the lender is going to use to calculate base income.

Are you hourly or salary? If you are salary, the weekly hours will not matter. They will take your current pay and annualize it.

If you are hourly, your paycheck should itemize what you hourly rate is and the number of hours worked. If in a normal workweek, you are paid for 37.5 hours, they will take that and annualize it.
AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
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