Category: USDA

Attention Union Workers!  We know your income can seem complex to lenders, and we want you to know that we get it. I have worked extensively with Union workers; understand how you are paid and how to document it.  PM me with any questions!

Attention Union Workers!  We know your income can seem complex to lenders, and we want you to know that we get it. I have worked extensively with Union workers; understand how you are paid and how to document it.  PM me with any questions!

Related Article Title: Union Income Calculation & Documentation – Multiply Agency Answers Question: I’ve been in this industry for 20+ years but seem to always get challenged when it comes to union employment verification and acceptable documentation.  Where is there clear guidance on verifying this income short of just asking for 2 years of tax […]

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When to Include Formerly Employed Spouse in Income Limits

Question: My client took a job promotion in another state and he and his wife will be moving there.  The wife is currently employed but may or may not work in their new location. Will USDA require us to add her income when considering county income limits? Answer: USDA RD regulation HB-1-3555 Chapter 9 states […]

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USDA Occupancy Requirements

Question: Does USDA only allow for Primary Residence or are there other types of occupancy?  Mortgage Currentcy Chart – Occupancy – All Agency Comparison Answer: USDA only allows for primary residence. We do have a chart on occupancy. I have provided the link below. Supporting Resource: Mortgage Currentcy Chart – Occupancy – All Agency Comparison […]

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When Can Mandatory Overtime Income Be Used?

Question: My client works for the State Prison system and is required to work 5 hours of overtime per week as a condition of his job.  He has been there for 1.5 years.  Can I use this income to qualify him? Mortgage Currentcy Income Analyzer – Overtime Income Answer: Required History: One year Continuance: Income […]

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Union Income Calculation & Documentation – Multiply Agency Answers

Question: I’ve been in this industry for 20+ years but seem to always get challenged when it comes to union employment verification and acceptable documentation.  Where is there clear guidance on verifying this income short of just asking for 2 years of tax returns, copies of W-2/1099’s, YTD income, most recent paystub and final paystubs […]

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