Borrowers need to be self-employed for a minimum of one year before their income may be acceptable and proven to be sustainable. Let me help your self-employed buyers come up with a plan before they start shopping for a home.
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Answer: The instructions for how to calculate the commission income are explained below in the FHA guideline. However, the minimum is one year provided that the borrower is in the same or similar line of work and is reasonably likely to continue. It will be up to you and your underwriters to determine what the […]