Tag Archive for: overtime

Change Jobs, Lose Bonus Income & LOSE HOUSE!

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It is usually 100% OK to change jobs at any time IF … borrowers are NOT dependent upon bonus, overtime or commission income to qualify. If, however, borrowers are dependent upon bonus, overtime or commission income to qualify for a loan (very common in today’s world), changing jobs can be a deal killer! This is […]Read More

Reminder About Necessary Bonus & Overtime History

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We often get borrowers with substantial income in the previous tax year who do not qualify for the financing they desire. This is because a large portion of their income was comprised of either Overtime Pay, Bonus Income, Commissions, or Stock Options (exercised), and there is no “history” of earning such income in prior years. […]Read More