Kentucky First Time Home Buyer Programs For Home Mortgage Loans

Louisville Kentucky VA Home Loan Mortgage Lender: FREQUENTLY ASKED QUESTIONS FOR KENTUCKY VA MORTGAG... : FREQUENTLY ASKED QUESTIONS FOR KENTUCKY VA MORTGAGE LOANS What Does Having Basic Entitlement of $36,000 Mean? The...

What income is okay for a mortgage loan approval? I have put together some information to help assist you in answering some questions about qualifying for a mortgage loan when it comes to your job history and income.  Wage Earner: -2 year history of employment unless college/training recently completed and borrower is employed in field -Most recent paystub showing 30 days of earnings -2 yrs W2s -If working for family owned business tax returns required -Borrowers who own 25% or more of company are considered self-employed -In cases of skilled employment may use letter of hire if borrower hasn’t started job. Must be guaranteed, nonrevocable, and start work within 60 days of closing. Borrow must have sufficient funds for living expenses until then. Self-Employed -Two year history of self-employment -Two years tax returns + YTD P&L Commission Income -Two year history required w/ few exceptions -If more than 25% of income is from commissi...

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