Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

50
Posts
21
Votes
Tracey Hamilton
  • Priest Lake, ID
21
Votes |
50
Posts

questions on conventional financing qualification

Tracey Hamilton
  • Priest Lake, ID
Posted
I have a few questions about qualifying as an individual for an owner occupied sfh with conventional financing. these will be specific to a newly divorced woman applying for the first time on her own. 1) is w2 income received from an llc s-corp business owned by the applicant treated any differently then w2 income received from an unrelated employer? would this even need to be disclosed? 2) for purposes of dti ratios, is only the current rate of pay considered, or is an average of the last two years w2 income used? 3) can a two-year guaranteed-compensation employment contract be presented in lieu of the typical requirement of two years employment history? if so, would it be disallowed if the applicant were the signing officer for the corporation? thank you!

Loading replies...