Mortgage Glossary

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Casual Employment

If you are paid regular part-time or casual, then y ou must provide a letter that statea:

The dollars per hour that you are paid.
The number of hours per pay period that you work.
That the number of hours per pay period (or annually if seasonal) are consistent.

OR

Provide two years of tax returns
C onfirmation of gross income year-to-date.

If you received a bonus last year, then you can only use that bonus if you can show that you have received a similar amount for the past few years. Overtime income is treated the same way.

There are other types of income that can be used:

pension income,
social security income,
investment income,
dividend income,
income from annuities,
child tax credits,
child support income,
alimony income,
rental income (including illegal suites in some cases!).
any income of a continual nature can be included.

 

 

 

 

 

 

 

 

 

 

 

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