We are please to announce our W2 Transcript ONLY program. Typically, 1040 tax return transcripts are required for all borrowers to submit for qualifying purposes, however, our guidelines now allow just W2 transcripts to be pulled and a signed 4506 T signed at closing in lieu of 1040 transcripts. This great news eliminates qualifying dilemmas that borrowers come across when unreimbursed expenses show up on tax returns and has a negative affect on qualifying ratios, now, no more worries, no more 1040 transcripts needed, please see the summary below.
Applies to FHA – VA – and CONVENTIONAL Loans !
- Minimum Credit Score 580
- All borrowers must be paid with W-2 (wage earner borrowers only)
- Do not submit tax returns
- 4506T form must select W2 transcripts (#8 on the form)
- No 1099s employees
- No Commission income borrowers
- Cannot be self employed
- Cannot be in the construction industry
- Helps with those borrowers that might have Unreimbursed Employee expenses on their tax returns and not having to count those against the income!
If you are doing business with us alreay Thank YOU!!