Conventional Loans with 1 yr tax Return/Income Verification

Conventional Loans with 1 yr tax Return/Income Verification

  •  One year Taxes for all types of income
  • Subject to Automated Underwriter approval

Also See: FAQ’s

This is useful if a borrower has good income in the last year and averages for 2 years are not working out .

Conventional Loanswith 1 year verification

 

4 thoughts on “Conventional Loans with 1 yr tax Return/Income Verification”

  1. Is this one year requirement for W-2 wage earners only? How about a couple who have commission income, rental income, note income, and only a tiny bit of wage income? Will we have to average two years?

    1. Hello Jim

      Each income is dealt differently
      1)Commission Income ( Average of last 2 years)
      2)Rental Income ( Per Schedule E of last tax return)
      3) Note Income :Current Income is considered if the note income will carry on for 3+ years

Share your thoughts