My work is contractual and was laid off last year so my income is 50x less than what I make now. The thing is im still on term but will be employed whole year this year.
One bank we stated i was in contract and we got denied for pre pproval.
Second bank we showed the confirmation of employment and we got pre approved.
Just wondering how will this affect during the approval process? Is there a chance we will get approved or will we be denied? How do they confirm COE?
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Ask to go through full underwriting.
It's free to chat with different mortgage companies about this