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How Income Is Determined

Mortgage Library: Ask a Mortgage Related Question: Answers: How Income Is Determined


When trying to obtain a mortgage loan, why am I asked to bring in 2 years worth of W2's and most recent paycheck stubs? Do they average out what I make in the last 2 years to determine if I can get the loan? Are these items really that important?

L. S.
Rock Springs


Yes, those things really are that important.

When determining income, your mortgage company will use the current income and year-to-date from your current paycheck stubs. The W-2s prove employment history and validate your current income.

Rick Lanicek
PrimeLending, A PlainsCapital Company
17950 Preston Rd Ste 50
Dallas, TX 75252-5759
(972) 705-9721
(800) 256-0817 Ext 202
Mobile (214) 552-6125
eFax (972) 692-7260

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