Secrets Revealed: Mortgage Lenders' Income Calculation
How Do Mortgage Lenders Actually Verify & Calculate your Income?
Understanding this process is crucial for anyone looking to secure a mortgage and embark on their homeownership journey. #mortgage #mortgagebroker #income
Unveiling the secrets behind Mortgage Lenders Verifying & Calculating your Income, we will explore the various methods lenders employ to ensure your financial stability and capacity to repay the loan. From examining paystubs and employment contracts to scrutinizing tax returns and bank statements, we'll guide you through the intricate steps taken by lenders to assess your income accurately.
By shedding light on this essential aspect of mortgage approval, we aim to demystify the common doubts and misconceptions surrounding income verification. Whether you're a first-time homebuyer or simply seeking more knowledge about the mortgage process, this video is perfect for you.
How Do Mortgage Lenders Actually Verify & Calculate your Income?
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Mortgage Matters In Minutes Episode 4
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TIMESTAMPS:
00:00 - Intro
01:22 - W2 Income for Mortgage
02:38 - Bonuses and Commission Income
03:11 - Qualifying for a Mortgage while Self Employed
05:11 - Income from Rental Properties
06:01 - Income During COVID
07:59 - Conclusion
08:23 - Outro
Licensing info: Brent Rasmussen, NMLS 5918 at Mortgage Specialists, LLC NMLS 2424
For licensing, go to www.nmlsconsumeraccess.org
Address: 8420 W Dodge Road Ste 113, Omaha, NE 68114 Equal Housing Lender
Website: mtg-specialists.com
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Mortgage Specialists, LLC for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Mortgage Specialists, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Mortgage Specialists, LLC. Mortgage Specialists, LLC and its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Mortgage Specialists, LLC is a limited liability company organized under the laws of the State of Nebraska. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency.
