Loan Officer Work From Home
I am applying for a mortgage loan from the FHA, why does my loan officer needed the last 2 1040's?
My husband owns a very low rental property and is not working now. She is a homemaker. My name is not on the mortgage. I'll be a first time buyer. If it is important med my FICO score 599. She is not making any money from the rent. The tenants are paying the right mortgage and have been late sometimes. I've heard of the last two W2, but never that of 1040. Can anyone shed some light on this? Thanks … I need no lectures. I am not a child. I just wanted clarification and that it was too late to call back. For the "Realtors" out there, I hope they are not as condensending to their customers. For those of you who are responding w / helpful answers … thanks
They probably had the documents to the rental income from the previous two years so you do not have to have the mortgage on the rental property with you. Moreover, as late tenants, which should not affect the mortgage because that goes against your credit and the bank will not accept that their tenants pay rent late as an acceptable reason (a downside of being the owner).
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