is there mortgage companies that will lend for commissioned salesperson under a year on the job?

Asked by Designgirl, Madison, AL Sun Apr 1, 2012

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Leslie Turner, Agent, Madison, AL
Sun Apr 1, 2012
Check with Gateway Mortgage Group...they have some "unconventional" loan programs and are able to do some things other lenders can't. Their number is 256-325-1734 for their Madison location. You will always do better by utilizing a lender local to our area.
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, ,
Sun Apr 1, 2012
Lending guidelines require that commission income must have been received at least 24 months before it can be deemed stable enough to use as qualifying income. All mortgage lenders must follow the same HUD guidelines for FHA loans.

HUD states that:
"Commission income must be averaged over the previous two years. To qualify with commission income, the borrower must provide
· copies of signed tax returns for the last two years, and
· the most recent pay stub.
A borrower whose commission income was received for more than one year, but less than two years may be considered favorably if the underwriter can:
· document the likelihood that the income will continue, and
· soundly rationalize accepting the commission income."

If you have been receiving it for less than 12 months, then you would need meet the FHA guidelines above at this time.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
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