It's been about 20 years since I have gotten a mortgage since I usually pay cash.

We use a YTD paystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make sure they’ll always be able to pay the rent on time.

So she will not have to pay any rent and just utilities for the year.

We use QB for bookkeeping and accounting, and Relay Financial as our bank so we can automatically sort out a % for taxes and we pay those monthly/quarterly depending on what the township requires.

No experience with the 2 you mentioned, but I'm a fan of paying the year so I don't forget next month/quarter and the coverage lapses.

I'm so accustomed to paying these commission fees without questions as it's the norm.

Make them pay the full deposit and first month's rent (proves they can afford it) then give them the reduction the second month.4.

Does this mean, I am not able to refinance to a lower rate in the future until 5 years or I would have to pay a penalty if I were to do it earlier than 5 years.Thank You,

B) Hold the lots, pay the taxes each year and just sit tight to see where things go, hoping in a few years demand will pick back up and then either sell the lots or build. 

Is there a fine they pay or does it say nothing?