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i am qualified for a mortgage, but have questions about income verification.
I have 10-20% down payment
740+ score
I have 2 - w2 income jobs
Will the loan officers try to cause trouble with my jobs?
Obviously its unusual for someone to have 2 - w2 jobs, however, I actually have held these 2 jobs for over 3 years now.
I have great income, great performance at both jobs, but i dont want a loan officer going and asking my management if they know that I have another job.
Anyone have experience with this?
Why would they try to cause trouble? They want to lend you the money, just as much as you want to borrow the money.
There might be some additional complications or add ons if you secured a supplement income out of state.
its remote based work. I live in one state and work for comapnies based in 2 different states.
i'm not so worried about them intentionally causing trouble for me, but more unintentionally.
How do Loan Officers verify income and employment?
Do they call a 1-800 number for a company - or do you give them an HR contact ?
There was a service called The Work Number.
I'm not sure how things are done now.
Processors will use the Work number, if not available they will physically call a number given to them (HR, manager) that can confirm employment- nothing more nothing less. Having 2 jobs doesn't matter, it's not like they contact HR and say that you have another job elsewhere. You're all good for the employment and yes you can use both W2's to income qualify.