Will Arch allow use of qualifying income if it begins after the loan closes?
On our Standard and EZ Decisioning Programs, Arch will allow use of stable salary income from a new primary job which starts within 90 days of the note date, in accordance with Agency guidelines on this topic. The lender must obtain an executed copy of the borrower’s offer or contract to clearly document the employment income. Additional considerations and documentation/reserves apply per Agency guidelines. Please refer to the applicable sections of the Fannie Mae and Freddie Mac Selling Guides for more information.