FHA Tip Counting Future Raise

FHA allows a borrower to use a raise if it is documented by the employer and received 60 days from the date of closing. Remember that the underwriter will look at the over all risk and make sure that this makes sense. Sometimes underwriters will require that the paystub is received showing the raise before closing. Make sure you know what the 4155.1 says so that you can communicate this with your underwriter and discuss the risk that the file could have with out the documentation. This information is found in 4155.1 Rev 5 Paragraph 2-7