1040's NOT required when:
- Borrowers are true wage earners
- Can be used on FHA, VA & Conventional Loans
- Borrowers are true wage earners
- Can be used on FHA, VA & Conventional Loans
1040's and IRS full tax transcripts are only required when:
- Self-employed (defined as 25% or more owner of any type of business entity)
- Receives Rental income
- Employed by interested parties to property for purchase
- Employed by family members
- Earns 25% or more of commission income
- Receives income from unemployment