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Brett's Mortgage Blog

How Your Loan Officer Will Treat Your 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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