Matt Padget of Keystone Mortgage in Knoxville, TN shares how banks look at your income in relations to mortgages when you make commissioned income.
If you make commission income, it is looked at differently by underwriters thanif you were making a salary or an hourly pay. With commissioned income we need to have a two year consistent history of making that income at the same employer. There are special instances where we don’t need two years, for instance if you’re in the same line of work with a new employer.
Want to learn more? Give us a call and let’s talk about details 865.909.0211
Get that dream home and apply here now.