About getting a mortgage loan?
I am looking to purchase my first home. I have excellent credit and can prove my current income through my paycheck stubs.
I work as a waitress, and the previous places I have worked did not require that I report my tips, I know it is my responsibility to do so in the state of CA , but at the time I didn’t really think about it. Anyway, so I have a lot of unreported income that don’t show on my past W-2’s.
However, at my current position, my paychecks reflect the exact amount I earn including tips.
My question is, what is more important to lenders? Current income, or the ability to prove previous income? I have excellent credit and no debt. Will they take into consideration that unreported tips are a common issue?
Thanks in advance for all your answers…