First time Home buyer with Fannie Mae?

Question

We applied for a loan through Fannie Mae today. How do they verify income? Our mortgage lender says they no longer ask for 2 years tax returns only your last months pay stubs.

Answer 1

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Answer 2

Your not getting a loan through fannie, your getting a loan that meets fannie's requirements to purchase on the secondary market.  Usually tax returns are asked for if your self employed or you do not have your social security card to verify your ss#.  The lender with have a voe completed, which is a verification of employment, basically someone will call your employer to verify the information you provided.  good luck

Answer 3

Fannie Mae has this wounderful book with all the informationa nd questions it even has a 800 number..buying a house my dream good luck!!!!!!!

Answer 4

Tax returns are for self-employed people ( like me).  If you have a regular job, paystubs work best.  Hand them over and you get the loan. /