No. of Recommendations: 3
Monthly income is monthly income, no matter how frequently it's paid.

Sure, but when a large deposit, as defined in your post is:

"Large deposits are defined as a single deposit that exceeds 25% of the total monthly qualifying income for the loan.",

then people who are paid 1-2 times a month rather than weekly will most likely have deposits greater than 25% of the monthly qualifying income.

Thinking required.

Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.