Tag: history of overtime income

FHA – Overtime Income History: Is there a way to use overtime income if the borrower does not have a full two-year history?

Answer: Per the guideline below, FHA will allow the use of Overtime income even if it hasn’t been earned for a full two years. See the details below. Reference: 4000.1, II, A, 4, c v. Overtime, Bonus and Tip Income (TOTAL) (A) Definition: Overtime, Bonus and Tip Income refers to income that the Borrower receives in addition to the […]

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