Rules for Owners

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Declared Income

When you submit a Mortgage Financing application on IRESE, you will be asked to provide your current annual income for the purpose of calculating and displaying your debt to income ratio. The debt to income ratio is displayed on your application only to investors, and helps investors gauge your ability to take on additional debt.

IRESE reserves the right to request documentation verifying your income at any point in the process of Mortgage Financing application and origination.

Follow these guidelines when entering your current annual income on IRESE:

  • Enter only income that you can verify using a recent pay stub (dated within the last 30 days) and Form W-2. If you are retired, enter only income that you can verify with a Social Security benefits letter or Form SSA-1099.
  • If you cannot provide proof of your stated income with a recent pay stub and a Form W-2, enter only the amount of your income which can be verified, or choose the option when creating your application that reads "I cannot provide a pay stub and Form W-2...". Your stated income will be displayed with your application, but your debt to income ratio (DTI) will not be calculated.

Failure to provide an accurate and verifiable income may result in a range of actions, including:

  • Cancellation of your application
  • Account suspension
  • Account closure

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