Calculating Base Income through Pay-stub

Base Income (Fix Income) from employment is one of the most stable form of income considered for qualifying purpose. In an application borrower is expected to provide details on his employment for most recent two years. A two years employment history can be through one employer or in few scenarios it can be through multiple [...]

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Qualifying Income

Borrower's Capacity to make mortgage payment is one of the key component reviewed by underwriter while dealing with mortgage application. Borrower's capacity is analysed and is directly based on his gross monthly income. Income to be used for qualifying purpose can be from different sources. Majority of the application which are approved are for salaried [...]

Credit Report

On every loan application lender do pull and review credit report for all borrowers. Credit report summarizes all credit activities timely updated by 3 credit agencies namely Equifax, Experian and Transunion. Each agency do rate individual based on his credit history and proposes a score known as credit score which is most important factor for [...]