+1 vote
asked in FHA Loans by
I am waiting until I file my 2020 taxes to apply for an FHA loan, I hear lenders are a lot stricter due to Covid especially with those that are self-employed. My question is with a 630 average FiCo score (2,4,5) and my new taxes showing increasing income in the new year (2021) what other concerns should I have or try to prepare for when I apply for an FHA. DTI is low as well


1 Answer

0 votes
answered by (40.8k points)
We average your past two years of adjusted gross income from your tax returns and the average monthly income after all deductions will be your qualified income.