How Mortgage Companies Treat Overtime And Bonus Income…

By
Mortgage and Lending with Berkshire Lending, LLC

 

small brett pic How Mortgage Companies Treat Overtime And Bonus Income...Are you planning on using your bonus income or overtime income to help you get a mortgage?

…If so, then there are three important things you need to be aware of:

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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