INCOME - Second Cornerstone Of Qualifying

The guidelines used by mortgage loan underwriters to determine a borrower's income can range from simple and straight forward to variable and complex depending on the type of income being evaluated.

With variability in the guidelines and room for interpretation by the underwriters, it's not unusual for different underwriters evaluating the same income information, to come up with different results.

How Can I Maximize The Income Used By The Underwriter?

Maximizing income may be of little concern when the borrower's debt is low and the income exceeds what is required, but this is seldom the case since most borrowers are attempting to qualify for the largest loan amount possible.

When trying to maximize and receive every usable dollar of income in the underwriter's evaluation, having an understanding of the documentation required based on your specific income type, can give you the leverage you need enabling the underwriter to give you the maximum amount possible.