Hidden Treasures: Uncovering Overlooked Income Sources

🎙️ Episode 3: "Hidden Treasures: Uncovering Overlooked Income Sources"

Welcome back to another episode of "The Brutally Honest Loan Officer Podcast," where your hosts Stephen Brock and Derick Brown take you on a journey through the lesser-known paths of mortgage qualification. 🌟

📈 Income Qualification 101: Derick starts us off by breaking down how borrowers are qualified based on standard incomes - from full-time salaried employees to those with overtime and part-time workers. It's not just about your salary; it's about understanding the nuances of income calculation. 🧮

💼 Commission and Bonus Income: Stephen then dives into the intricacies of commission and bonus income, revealing the importance of history and consistency in these earnings for mortgage qualification.

🔍 The Unseen Incomes: Here's where things get interesting! Derick sheds light on legitimate income sources that many overlook. Think child support, alimony, separate maintenance, social security, disability, pensions, and IRA distributions. These are the hidden treasures in mortgage qualification, often unexplored by potential homeowners.

🏡 Practical Insights: Throughout the episode, Stephen and Derick not only explain these income types but also share real-life examples and scenarios, bringing a practical edge to the discussion.

This episode is not just informative but a revelation for many, highlighting income sources you might not have considered when thinking about mortgages. Whether you're a potential homebuyer, a real estate professional, or just curious about the mortgage process, this episode is packed with valuable insights and tips.

🔔 Don't miss this enlightening episode of "The Brutally Honest Loan Officers," where mortgage secrets are revealed, and financial myths are busted!

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