Friday, May 23, 2014

Can I use Part Time Income when I apply for a Mortgage in Arizona?

Will a Mortgage Broker Arizona Consider My Part-Time Income?


There is not a simple answer to this question, and it does come up often. A Mortgage Broker Arizona may mortgage broker Arizona may count it. If the job is just a little part-time income for extra play money and doesn't make up a large percentage of your full-time job, it will likely not be documented. Work with your mortgage broker Arizona until you reach an agreement that works for you both and keep in mind that they know the industry and are going to do what is in your best interest.
or may not consider your part-time income when filing your Mortgage application. Essentially, it all goes back to the lender…it is, at the end of the day, completely your decision. Most of the time, your part-time income will not count toward the income you put on a Mortgage application. However, if you have worked at your part-time job for at least a few years, you plan to work there for several more, and that job provides a significant amount of your income, your

Can my Mortgage Broker Arizona ask me about Alimony, Child Support, or Other Payments that I Receive?


Again, you want to be honest with your mortgage broker Arizona. Remember that they are on your side and they want to get you the Mortgage. That being said, your broker will probably ask you about these things when filling out the Mortgage application. However, if you don’t want the creditor to consider these payments in your application, you need to indicate that to your broker. Your broker will probably tell you from the get-go that you do not need to reveal that information to them if you don’t want it considered. Don’t put them in a sticky situation of having to lie…just be honest about your circumstances and work closely with your mortgage broker Arizona every step of the way.



Dennis Dahlberg
Broker/RI/CEO/MLO
Tel:  (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120

Phoenix AZ 85027

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