I wrote about this the other day, but it’s pretty huge and I wanted to touch on it again.
It’s regarding alternative income documentation for FHA loans.
Normally you will need to provide pay stubs, w-2′s, and tax returns for income documentation to get a mortgage.
If there is an issue with your tax returns, or tax transcripts it can kill your loan.
We now have the ability to get your loan closed by just producing pay stubs, w-2′s, and a verification of employment.
…no tax returns.
…no tax transcript order from the IRS.
Keep this in mind if you or someone you know are having issues with tax returns in a mortgage process.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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