Good Morning!
We want to be able to use your bonus income to help you get a mortgage.
However, here are three big guidelines to be aware of for us to be able to count your bonus income:
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.
Be aware of this as you apply for a mortgage.
That’s it for today!
I hope you have a great day! Thanks for reading!
Brett
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