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What questions can a mortgage company ask when verifiying employment and income?

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Wiki User
2011-09-13 12:18:01
2011-09-13 12:18:01

They usually ask [ is so and so employeed and for how long ] they may look in the phone book to see if the business is real and varify the address and phone number.

Income is done through pay stubs, or tax statements scedule C or 6 to 24 months personal bank statements [ deposits added together divided by 6,12 or 24 months is the income ] Business the same minus 25% to 50%.

If the loan is stated they ask no questions about income.

If it is no doc they ask no questions about empoyment.

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