Tag: Expected Income

Expected/Future Income During the COVID19 Pandemic

Question: Has Fannie Mae or Freddie Mac released any guidance on the use of expected or future income during the COVID-19 Pandemic? Answer: What a great question!  There has been no correspondence from Fannie or Freddie announcing that they would be discontinuing their guideline allowing for future income/job. This is still allowed per selling guide […]

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FHA – Expected Income – Relocation: My client is moving and has a contract from his new employer. Will FHA require their first paystub? [MC Chart – Expected Income & New Job]

Answer: Your borrower will not need to wait until they receive a paystub in order to qualify for an FHA loan if all of the requirements for Expected Income are met.  See the full guideline below.  Mortgage Currentcy also has a great chart, Expected Income & New Job Chart, which lists all of the lender […]

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