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BofA has it's own quirks and Shane is correct, you've gotten what you're going to get from them. Time for a second opinion. You already have the documenation pulled......and nothing to lose.
Question. What happens if your income fluctuate. Like im a truck driver. Lowest pay is 1,190 a week and $1,400 is the highest. I gave my lo 4 check stubs of high 1250 1219 1400 1190. Now its time to close my check stub 1219 1129 1047 1200.
my car note is 667 n i pay 50 in credit cards a month. Estimate mortgage 1827. Will i be denied? Because the change in income?
Question. What happens if your income fluctuate. Like im a truck driver. Lowest pay is 1,190 a week and $1,400 is the highest. I gave my lo 4 check stubs of high 1250 1219 1400 1190. Now its time to close my check stub 1219 1129 1047 1200.
my car note is 667 n i pay 50 in credit cards a month. Estimate mortgage 1827. Will i be denied? Because the change in income?
They will take your last 2 years total income and average the amount. Most truck drivers are independent contractors which means self employed. You need 2 years work history for most lenders. Some will give an exception depending on your situation. If you are an employee and not self employed, they will still take the average of your monthly checks.
Hi, more information is needed. Did you income decline from 2012 to 2013? What about 2014?. A 4 week sampling is not enough to penalize you with the lower income. We don't know if that vehicle loan and mileage is on your return, nor what your down payment and loan program is. As much as we would like to provide you with the warm and fuzzy you seek, there just is not enough information to do so.
Call your loan officer and ask the question. If you can't get a direct answer, talk to someone else. ( and let you loan officer know you will be making a move to get that warm and fuzzy. If he offers to assist to help you move your loan, you have your answer.
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