Conventional and FHA loans on a new commission job?

[Nick Neville]

I recently switched from a salaried position to a 100% commission based job and am told that I must have two years of commission only income before being considered for a conventional or FHA mortgage. Is anyone familiar with this?

I planned to buy my first property on an FHA program and "house hack" for the first year or so while continuing my real estate education.

Any insight you can offer would be much appreciated.

[Chris Mason]

Hi @Nick Neville,

Unfortunately, @Russell Brazil is correct. It's the irony of ironies when someone goes 100% commission, their income doubles as a result, and the mortgage industry says that they don't "make enough" until it's been a couple tax years. :\