Income & Underwriting
Can rental income be used to qualify a borrower on an investment property?
No. Pylon does not currently originate loans where rental income from an investment property is required for the borrower to qualify. Rental income from a departing residence, supported by a lease, is evaluated separately.
What types of W-2 income are accepted?
Pylon currently uses W-2 income only. Mixed W-2 income — including base salary, commission, bonus, tips, and overtime — is all eligible.
Can I use my own credit report, or do I need to pull a new one through Pylon?
Either is acceptable. The borrower application runs a soft credit check at Pylon's expense. If you prefer to use a credit report you've already pulled, you can import it in the Credit & Liabilities tab to override the soft pull.
Does Pylon allow existing credit reports to be reissued instead of a new credit pull?
Yes. Credit reports may be reissued from supported credit providers (e.g., Advantage). Confirm the credit company with your account contact when arranging the reissue.
Can a borrower's credit be rapid-rescored during the loan process?
Yes. Rapid rescore can be accommodated during the loan process.
Is the L1A visa acceptable?
Yes. The L1A visa is acceptable for borrower qualification.
Are IRA distributions accepted as qualifying income for retirement-age borrowers?
Yes. IRA distributions may be used as qualifying income for retirement-age borrowers, following standard Fannie Mae and Freddie Mac guidelines.
Are employment contracts accepted as qualifying income for borrowers who have not yet started?
Yes, with conditions. For hourly employment, the position must guarantee 40 hours per week or be classified as full-time. The borrower's employment must begin within approximately 60 days of the note date, and the first paystub may be required to use the income.
Is documentation required when a borrower transfers funds from a foreign bank to a U.S. bank?
Yes. Transfers from a foreign bank account to a U.S. account are acceptable; documentation establishing a clear paper trail of the transfer is required.
Does Pylon run AUS on Jumbo loans, and where can the results be viewed?
Yes. Pylon runs AUS on all Jumbo loans. AUS results are visible in the Products & Pricing screen in Command Center.