Alternative Documentation Options
When the need arises, it is sometimes necessary to look for alternative documentation options when verifying income and/or employment. With the increase in the number of people working as consultants, running a side gig, or simple doing anything and everything they can to earn a living…steady and consistent salaried income is just not possible. That is perfectly ok and we applaud the tenacity and determination of those people. Options do exist for these individuals and some of these alternate documentation options include the following:
- Bank Statements (Personal or Business)
- No Ratio – no income or employment
- Asset Depletion – using assets averaged a period of time to use as income
While this isn’t a complete list, the ability to use some or all of these sources of wealth and income open up a large number of doors for those looking to purchase home, a vacation home, invest in real estate, or just cash out on equity and invest it any which way they choose.
Do you or someone you know fit this criteria? Use our simple prequal tool to find what programs we have available.
