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Brett's Mortgage Blog

How Mortgage Companies Treat Bonus Income…

If you get bonus income please be aware of how the mortgage company will treat that income when you try to get a mortgage.

1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income for 2 years.

2) The employer has to indicate that the bonus or overtime income will likely continue.

3) We will use a two year average of bonus and/or overtime income. So, if you got alot this year, but not last year then we will have to use an average of both years.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

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Brett Sampson

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