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Old 2 Weeks Ago
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Forbidden Exclamation Trucking income and buying a home

Please help! We are in the preapproval process of getting a mortgage. We need hubby's income to qualify. The banks are telling us since he gets paid by the mile we cant prove actual income even with W2's. Can you all offer any suggestions. I am sure there are truck drivers that own homes!
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Old 2 Weeks Ago
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Will the company he works for give him a print out of his income for the last couple of months? Ask the bank what they would need as proof.
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Old 2 Weeks Ago
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we have w2 and tax returns for the past 6 yrs. they have that already. they say they need a letter from the employer saying he is guaranteed to make at least x dollars per yr. no employer would ever write such a letter so it just seems we are screwed until he gets a traditional job
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Old 2 Weeks Ago
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How about an actual mortgage lender, and not a Bank ???

Banks are complete BS, and an avenue of last resort when considering a house note.

If you're working through a Realtor, contact them with your issues. And ask them to recommend a mortgage lender.
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Old 2 Weeks Ago
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Have you tried TX Lending? Have a couple of friends that have refinanced and loved them. They are Dallas co. Check out their website.
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Old 2 Weeks Ago
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Quote:
Originally Posted by soon2btruckersgyal View Post
we have w2 and tax returns for the past 6 yrs. they have that already. they say they need a letter from the employer saying he is guaranteed to make at least x dollars per yr. no employer would ever write such a letter so it just seems we are screwed until he gets a traditional job

Even in a "traditonal" job the employer would never write a letter guaranteing the yearly income...

I agree look for another lender, there are lots out there. I know things are not great right now but my hubby is a driver and we used Citimortgage for our house, fixed rate and all I cant complain.
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Old 1 Week Ago
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They may not be able to guarantee the total income, but they could in a letter write that he is guaranteed to make X amount per mile and based on his six year average of X miles per year, he should make X. Also, they should include in their letter that it is expected that he will have continued employment with them.

Also, it's probably not the banks guidelines itself that are making you do this, rather, the investor, like Citi or Bank of America, etc. that are stipulating this. Did you sign a lock agreement with the lender?
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