Tag: commission income

Commission income comes with the ability to make more income. Yet, this form of income usually comes with fluctuating ups and downs. Which is why mortgage loan guidelines want to see a history. Usually a minimum 2 year history for commission or bonus income. Even though many lenders require two years, we follow the FHA […]

Capacity, credit, collateral, and capital are considered the 4 C’s of mortgage lending.  Basically, these are the main areas lenders review to qualify a borrower.  But these 4 categories are broken down into many subsets.  This article is going to discuss the capacity to pay back the loan and more specifically discuss the role of […]

It happens all the time where someone builds up the nerves to venture from an hourly or salaried position into a partial or full commission income job. If the person is good at what they do, the income potential can be much higher than a salaried job. But, then you find out it is hard to […]

Unreimbursed Employee Expenses and Mortgage Unreimbursed Employee Expenses can cause issues with calculating mortgage income An often overlooked and potential deal killer on mortgage loans is a few pages back in the tax returns on Schedule A called “Employee Business Expenses”.  If you have found this article through an online search down the road after it was […]