Updated about 3 years ago on . Most recent reply
Travel RN - rate changes and Fanny Mac push back
Hey all, I'm in the process of purchasing my first deal and all has been going well until my hourly pay rate has changed... How can I account for my living tax free stipend into my income? When I initially applied for a conventional loan, my pay rates were through the roof due to covid. With the market changing, my hourly income has deceased significantly, to a rate that "is not lendable" according to my broker. But, my living tax-free stipend that I am paid weekly, has increased to balance out my income. How can I appropriately show that I am good for the funds if my hourly is so low? I am in escrow on a property, that I am putting 15% down on. After a long 5 months of battling in the area - I am ready to secure my first deal, but now this!! HELP!! Thank you, any and all tips would be appreciated :)