So for 2012 my income was something like 80% W-2 wages and 20% self-employment income.You won't be able to use any self-employment income to qualify because it hasn't been proven by a 2-year track record.Your W-2 income has declined year-over-year, but you've returned to 100% income at a new job without a break in employment.Since you haven't yet filed a tax return with self-employment income, and were I originating your loan, I would disregard your S/E income completely and qualify you on your salaried employment with your new job.You'll be required to provide:30 days paycheck stubs from your new job2 years W-2's for your salaried job(s)2 years Federal tax returns, all pages/all schedulesThe underwriter will take your current annual income divided by 12 to arrive at your monthly qualifying income.
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