Understanding Payment Schedules When Calculating Income

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Understanding Payment Schedules When Calculating Income

When calculating a borrower’s income to qualify for a home loan, be sure you know the difference between bi-weekly and bi-monthly pay.

Additionally, always remember there are 52 weeks in a year and not 48. Why is this important? Because your clients forget and end up telling you a lower amount of monthly income than what they are actually compensated.


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