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I am starting a new job and want to qualify for a mortgage soon. How many pay stubs are required?

by bethenny434 from Maplewood, Ohio. Aug 9th 2016 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

More info needed, but in general, you only need 1 pay stub to apply, but the lender will require your most recent 30 days pay stubs before funding.. So long as you are in the same line of work for 2 or more years, and your "Type" of pay is the same, (commissions, base plus commissions, salary, hourly, 1099, etc..) then you should be ok.. Try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Aug 9th 2016
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Terry May (terry@jtcadvisors.com)
#101 ranked lender in Ohio - 2 contributions

It all depends on the line of work and how you are being paid. I will be glad to talk with you and explore all options. My number is 513-226-9052 and email is TMay@BankingUnusual.com. There is NO cost or obligation

Aug 9th 2016
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Larry Gray (lgray_312_247)
#566 ranked lender in California - 1,127 contributions

There can be different rules applied based on your particular situation (i.e. shortly going from one job to the new job, there has been a significant gap of several months or more since the last job, less than two years of full time employment, etc.)If really changing from one job in the same field in short time to the new job...one to two pay stubs showing at least 30 days employed can do it. Otherwise, it will depend on your particular situation. If you were self employed but now are going to be a w-2 employee in the same field one year on the job may be required. As William Acres has suggested, I strongly suggest you choose a broker in your State to get qualified with. That person can provide you with much needed mortgage planning at this stage. You are always free to shop for the best mortgage and a mortgage broker/banker you feel comfortable with.

Aug 9th 2016
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