We’re short on RI as we have to count this ladies Student loan debt. She has been working Part-Time for years and recently accepted another Part-Time assignment. The questions are; can we use this income and if so, how much? What other documentation would we need to get?
Using a second job requires a 2 year history of working 2 jobs. However, it can be used as a compensation factor if she is short residual of less than $100. There are other compensating factors and other ways that she could be approved for the loan. Your best bet is to send in a full credit package minus the appraisal, title, etc. so that we can get the full picture.