Your Employment History

Your employment history and your income are the keys to determining your "capacity" to repay your mortgage. That is why it's vital to document your employment history and income for the last two years.

A full two year history of employment indicates stability and the ability to master a job. Unless you have been employed for two years with the same employer, I may need additional documentation if you've had any of the following situations in the last two years:

• 2 or more job changes
  
• A gap in your employment exceeding 3 months
  
• Employment for less than 2 years

Your employment history is verified with:

• An IRS form 4506 transcript of your past two years tax returns
  
• Your last 2 years W-2's and past 2 years of federal tax returns
  
• Your most current pay stubs covering the past 30 days (pay stubs must show year to date earnngs)
  
• If you need bonus income to qualify, we will also send a Verification of Employment form to your employer to verify your bonuses for the past two years
  
• Please note that the lender will also verify your employment by phone a day before your loan closes.