Can I use overtime income to qualify?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes, when overtime is consistent. Lenders average it over the past two years and need confirmation it's likely to continue, usually from your employer. A reliable overtime history can meaningfully raise your approval.
If your overtime is new or sporadic, it won't fully count yet. Bring two years of W-2s and pay stubs that break out overtime and we'll calculate the usable average.
Overtime as qualifying income
Overtime counts when it is consistent. Lenders look back two years and average the pay. Steady extra hours strengthen your file; sporadic ones do not.
Your employer may confirm the overtime is likely to continue. We collect that detail. It turns variable pay into reliable qualifying income.
Documenting overtime the right way
Florida shift workers often earn real money past 40 hours. It should help you buy. We package the history the way underwriters expect.
Bring two years of pay stubs and W-2s. We will show how much of your overtime the loan can safely use.