New Covid-19 Income Rules to know

Know how your Income is Affected by COVID-19 Income Changes

Annette Bui | Updated June 18, 2020 | Mortgage Programs 101

Amidst this pandemic, with so much uncertainty between volume of cases rising and passing its peak of the curve and further contradictory information. It's hard to say with any amount of certainty if and when there is a second wave. If the reopening plans are going to be worth the economy recovery while risking a surge in new cases being reported. It may even be that there were not enough resources previously to obtain a true indicator of new cases due to lack of tasting. However, one thing is for certain is the mortgage rates have seen an all time low but with many underwriting guideline changes. Primarily tightened to the discretion to ensure homeowners can still make their obligations. Below are some of the new income guideline changes and how it may impact your ability to qualify.

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