Understanding the different calculations used by various mortgage lending agencies is crucial.

For example, when it comes to overtime, bonus, and commission incomes, Freddie Mac requires all of these to have a 2-year history and must be averaged out. On the other hand, Fannie Mae allows a minimum of 12 full months of history to be used for qualification. Similarly, FHA also requires a minimum of 12 full months of history for qualification.

As a mortgage broker licensed in New Jersey, we have access to all three agencies – Fannie Mae, Freddie Mac, and FHA. This means that we can offer mortgages in New Jersey utilizing the lending guidelines of these government agencies. By understanding the specific income requirements of each agency, we can help Borrowers maximize their qualifying income and find the best mortgage option for their needs.

With our expertise in navigating the guidelines of Fannie Mae, Freddie Mac, and FHA, we can provide Borrowers in New Jersey with a range of mortgage options tailored to their specific financial situation. Whether you’re looking to purchase a new home or refinance an existing mortgage, we can help you find the right loan program that fits your needs.

We have the knowledge and expertise to help Borrowers in New Jersey navigate the guidelines of Fannie Mae, Freddie Mac, and FHA to find the best mortgage solution for their unique financial situation.

Contact us for more information about how you can qualify for a mortgage in the Garden State of New Jersey.