Verification of Income for Non-U.S. Citizen Borrowers
The following table describes income verification requirements for borrowers who are non-U.S. citizens:
Salaried or commissioned borrower employed by a U.S. company or individual
Same as for a U.S. citizen., See Section Employment and Other Sources of Income.
Self-employed
Same as for a U.S. citizen. See Section Self-Employment Income.
Employed by a foreign corporation or a foreign government and paid in foreign currency (“foreign income”)
The underwriter must obtain:
copies of the borrower's signed federal income tax returns filed with the IRS for the most recent one year period, and
documentation to satisfy the standard documentation requirements in this Chapter.
Note: All income must be translated to U.S. dollars.
For information on U.S. citizens earning foreign income, refer to Section Other Sources of Income.
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