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Income qualification for mortgage

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CreditHealthy
Established Contributor
‎09-18-2014 09:05 PM
‎09-18-2014 09:05 PM

Income qualification for mortgage

Hello, I was wondering if anyone knew if future income raises we're considered when getting pre-approved for a home loan? I am suppose to get a 2.5% pay raise next July but, trying for a home in Febuary. ThanksSmiley Happy

What's in my sock drawer? NFCU LOC 15,000] NFCU Cash Rewards 20,000][ Golden 1Platinum Rewards Card 6,600 Discover It 5,000,] {NFCU goRewards 17,500} Barclaycard 1250.00,]Cap one 750.00 ], Watering my garden for the next five years:-)
EQUIFAX 727 EXPERIAN 732 TRANSUNION 743 FICO} STARTING SCORE....554 July 2013
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ShanetheMortgageMan
Super Contributor
‎09-18-2014 09:59 PM
‎09-18-2014 09:59 PM

Re: Income qualification for mortgage

The raise would need to be effective prior to the loan closing in order to use it to qualify.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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CreditHealthy
Established Contributor
‎09-19-2014 08:22 AM
‎09-19-2014 08:22 AM

Re: Income qualification for mortgage

Thanks ShaneSmiley Happy

What's in my sock drawer? NFCU LOC 15,000] NFCU Cash Rewards 20,000][ Golden 1Platinum Rewards Card 6,600 Discover It 5,000,] {NFCU goRewards 17,500} Barclaycard 1250.00,]Cap one 750.00 ], Watering my garden for the next five years:-)
EQUIFAX 727 EXPERIAN 732 TRANSUNION 743 FICO} STARTING SCORE....554 July 2013
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