Can I use commission income to qualify?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. Commission income counts with a two-year history and is averaged over that span. When commissions exceed 25% of your total pay, lenders rely heavily on the two-year average and your tax returns.
A big recent year gets blended with a slower prior year. We'll review your returns and pay stubs and apply the qualifying average to your file.
Commission as qualifying income
Commission counts with a two-year history. Lenders average it and watch for a steady or rising trend. A big drop from year to year gets a conservative read.
When commission tops a quarter of your pay, full tax returns come into play. Clean records make this smooth and fast.
Sales pros buying in Florida
Realtors, car sales, and account reps buy homes on commission every day. The file just needs more detail. We know the exact documents required.
Bring two years of returns and recent earnings. We will set a defensible income figure and a price range to match.