Frequently Asked Questions

Will my second job income be considered?

Secondary employment or also known as multiple-job income is generally considered stable income for qualifying use when received and documented for the last two-years. There is some flexibility of accepting less than a two-year history, but no less than a 12-month history for a borrower if there is a strong likelihood that the borrower will continue to receive that income and there are positive factors to offset the shorter income history

It should be determined if there has been any recent change in the borrower’s overall employment status that might jeopardize the continuance the second job income. For example, a review of borrower’s historic ability to handle multiple jobs on a continuing basis.

As a general rule there can be no gap in employment beyond one-month in the most recent 12-month period, and the stability of this income; length of time and consistency of  income earned monthly will be verified.

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