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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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applying for mortgages
When you applied for a mortgage did you have to give the bank the past 2 years of your W-2 forms?
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Posted 10/31/06 4:40 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: applying for mortgages
Yes.
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| Posted 10/31/06 4:41 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: applying for mortgages
I think that is ususally if you are self employed or work on a commission basis.
if you are salaried- then you should just have to give recent paystubs.
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| Posted 10/31/06 4:41 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: applying for mortgages
Posted by Meaghan729
I think that is ususally if you are self employed or work on a commission basis.
if you are salaried- then you should just have to give recent paystubs.
We are both salaried, and they want the past 2 years.. 2 years ago is 2004, which is really more like 3 years ago since we are at the end of 2006. I am worried because DH and I were both in different jobs then - him in a much lower paying one, and I was working part time half the year because I was in school. Is that going to affect our approval?
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| Posted 10/31/06 4:47 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: applying for mortgages
Posted by SweetTooth
Posted by Meaghan729
I think that is ususally if you are self employed or work on a commission basis.
if you are salaried- then you should just have to give recent paystubs.
We are both salaried, and they want the past 2 years.. 2 years ago is 2004, which is really more like 3 years ago since we are at the end of 2006. I am worried because DH and I were both in different jobs then - him in a much lower paying one, and I was working part time half the year because I was in school. Is that going to affect our approval?
eta: i bumped a post that asked the same questions (lol it was me who asked)
that is weird then - because I will have the same predicament as you - I was in college in 2004, my salary is twice as much now, lol.
is this a bank or a broker?
Message edited 10/31/2006 4:56:44 PM.
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| Posted 10/31/06 4:49 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: applying for mortgages
No -- I'm doing a stated income loan. I say how much I make (# is inflated) but don't prove it....basically, it just needs to a believable number. So say you're a waitress...you cant state that you make $500K/year....like that. Your interest rate will go up a little for this type of loan though.
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| Posted 10/31/06 9:40 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: applying for mortgages
They told us they would just need our paystubs. (Citibank)
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| Posted 10/31/06 9:42 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: applying for mortgages
Posted by RandJ0806
No -- I'm doing a stated income loan. I say how much I make (# is inflated) but don't prove it....basically, it just needs to a believable number. So say you're a waitress...you cant state that you make $500K/year....like that. Your interest rate will go up a little for this type of loan though.
you also pay a higher interest rate because the lender is taking additional risk because they didnt verify your income.
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| Posted 10/31/06 10:25 PM |
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belladi
LIF Adult
Member since 9/06 1011 total posts
Name:
diana
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Re: applying for mortgages
Posted by SweetTooth
Posted by Meaghan729
I think that is ususally if you are self employed or work on a commission basis.
if you are salaried- then you should just have to give recent paystubs.
We are both salaried, and they want the past 2 years.. 2 years ago is 2004, which is really more like 3 years ago since we are at the end of 2006. I am worried because DH and I were both in different jobs then - him in a much lower paying one, and I was working part time half the year because I was in school. Is that going to affect our approval?
its ok, we had the same problem with dh, he got a letter from his empolyer. We had no problem
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| Posted 11/1/06 8:59 AM |
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