Income History For Mortgage
![Are You Overwhelmed With Questions As You Are Thinking About Buying A Home The Mortgage Process Can Be Scary But We A Mortgage Process Mortgage Help Mortgage](https://i.pinimg.com/originals/e5/8b/01/e58b01b9672373faab23a002791b9914.jpg)
Lenders also prefer giving mortgage money to borrowers whose total monthly debts including their estimated new monthly mortgage payments comes out to no more than 36 percent of their gross monthly income.
Income history for mortgage. Yes there is a standard within the mortgage industry that borrowers should have at least two years of employment and income history. Income and employment history is two of the most important factors in qualifying for a mortgage loan. And yes lenders frequently make exceptions to this requirement. Minimum gross monthly income 6 333.
Monthly debt expenses of 600 in addition to the mortgage payment would require a gross monthly income of 6 333 or an annual income of 76 000 for example. Minimum annual gross 76 000 monthly debt payments of 750 in addition to the mortgage would require annual income of 81 000.