Can you use overtime income toward a home loan?
I was recently working with pre-qualifying a client and as we were speaking about his income for the last couple of years it was apparent that his income for last year was much higher than the prior year. I asked him why this was and he proceeded to tell me that his employer started paying him overtime last year.
Pop Quiz: Can a lender use this clients' overtime income earned last year to qualify?
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Can you use overtime income earned toward a home loan?