Income Types

Income Types

Your income is crucial to applying for a home mortgage loan. Verification of income includes paystubs, W-2 forms, a letter from your employer, etc. It all depends on what your home mortgage loan company or lender will accept as proof. 

Obviously, the more income that you make, the better it will be to get approved for a loan. However, most people assume that your normal income (what you make on a day to day basis) is all that is considered when applying for a home mortgage loan. 

Home Mortgage Loan Company

If your regular income is not enough to get you approved for a home mortgage loan, then you can use supplementary forms of income to boost your application. Examples of this include overtime income, part time income, commission, child support and others.