If you are trying to purchase a house using part time job income, be aware of this…
Incidentally it works the same with bonus income. The underwriter will want to see that you have a 2 year history of receiving the bonus and will take a 2 year average of it to add it to your income.
…So, in other words if a loan officer tells you that you need more income – you can’t just run out and get a part time job to satisfy this need. …You wouldn’t fulfill the 2 year work history on it.
You do have other options though… If you are in this situation – please give me a call or drop me an email. I would love to try to help you.
Brett
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