For some people, the mortgage application process can be complicated.
Maybe I'm in graduate school and my salary is called a 'stipend' and I don't get any payslips, plus I have a part-time job in sales where my base salary is very low and about 75% of my income is commission, and also my girlfriend will be helping with the mortgage, but not the deposit, and she's a Ukrainian refugee and self-employed content creator.
An expert who's seen it all before would know how to navigate my situation properly.
That doesn't make any sense. At least in the USA, if the school is paying you then they have to issue you either a W-2 or 1099, regardless of whether they label it as a salary or stipend or whatever. Mortgage lenders are accustomed to verifying income from sources like that, it's not complicated.
Here in the UK a 'stipend' from EPSRC or similar is not classified as income for purposes of income tax or council tax. It's treated more like a scholarship.
> That doesn't make any sense.
Tell me about it. They still won't give you a mortgage, though.
Maybe I'm in graduate school and my salary is called a 'stipend' and I don't get any payslips, plus I have a part-time job in sales where my base salary is very low and about 75% of my income is commission, and also my girlfriend will be helping with the mortgage, but not the deposit, and she's a Ukrainian refugee and self-employed content creator.
An expert who's seen it all before would know how to navigate my situation properly.