In the month of May, I focused on self-employed buyers. This month, I’ll turn my attention to W-2 buyers. When purchasing a home as a W-2 employee, life gets much easier with underwriting.
How easy?
- Just started a new job? No problem! What is the salary?
- Just got a raise? No problem! What is the new salary?
- About to start a new job? Have an unconditional offer letter? No problem! I can underwrite the client on “projected income” and close before starting the job.
Yes, it really is a different world when someone is a W-2 employee. This is why I focus more on underwriting/qualifying self-employed buyers as W-2 is straight forward.
How will I ever get a series out of W-2 buyers? Great question! Next week I’ll touch on how W-2 buyers can purchase a home when using bonus and commission income. Then I’ll discuss the one area of a W-2 buyer which can cause issues… W-2 hourly employees.
Are you a W-2 salaried employee looking to buy a home in Georgia? If yes, contact me today. As I just mentioned, it is a simple process to get you ready to make offers on your next home!
