What earnings are considered when qualifying for a home loan?

Asked by Propertyvirgin, Daphne, AL Tue Jul 8, 2008

I'm concerned that based on my "salary" I won't be able to get the amount I want. I am in a commission-based sales job. It is likely that I will earn more or as much in commission than I do in my salary alone. How do lenders handle people, like myself, with potentially fluctuating incomes?

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Tue Jul 8, 2008
They will most likely take you annual salary and commission for the last two years and average your income. They may even take your year to date income and average that into the last two years also, giving them a solid picture of your finacial ability to repay the loan. Please email me with any additional questions at Tino.Muratore@gmail.com.

Thank you,

Tino Muratore
1 vote
Dallas Texas, Agent, Dallas, TN
Tue Jul 8, 2008
They take is your base salary is the majority comfort level.
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