Do you and your sibling get pay stubs with h your paychecks? Usually banks will ask for one or two months of pay stubs to verify income.
If not, you may be able to use bank account statements.
They may want to verify both your incomes if you add him as a cosigner.
If not, you may be able to use bank account statements.
They may want to verify both your incomes if you add him as a cosigner.
@Anonymous wrote:Im considering applying for an auto loan but at the moment can't verify my income, my sibling on the other hand has his w2 form from last year and can proboably verify his income but his scores at the moment aren't as high as mine. Mine are around 660-670ish (not that great I know) and his are 640 TU 630 EQ.
I know we proboably won't get top tier rates in the beginning but later down the road we can fix that and refi.
My question is: Since my scores are a bit higher could I possibly apply for the loan as the main applicant and add my brother on as a co applicant or joint applicant and if the loan officer requests income verification, I can simply give his W2 docs? Because we both work at the same place.
Glad it worked out for you but I am curious and you don't have to answer if this is too personal...
How is he able to prove income and you cannot if both you have the same employer and source of income?
