US Bank Rule for Future income
Income from New Job: Allowed only on Purchase transactions of 1-unit primary residences only. Future income must be documented with a formal offer/contract from the new Employer stating all pertinent information (start date, salary, etc.) This offer must be non-contingent. It must be signed by the employer & accepted by the borrower. Borrower must start new job within 60 days of closing. Must have reserves equal to 6 months PITI of new loan. A Verbal VOE within 10 days prior to closing verifying terms of contract have not changed will be require
No comments:
Post a Comment