How do conventional lenders view large increases in income?

[Jennifer Hamon]

This is my first post on BP and I am mainly still in the education phase of my RE journey so I appreciate any advice.

I am married, age 31 in a HCOL area, and have:

• No debt of any kind (paid off student loans, modest vehicle, and expensive dental work)
• No kids but want some starting in 3-5 years so I have some flexibility to pursue a househack.
• Credit score: high 700s
  
• Income: $155k base + around $150k/yr in bonuses and RSUs. My spouse is finishing up some education and will soon be earning about $100k/yr.
• Investible liquidity: $60k today, set to rise by ~$100k net after my first ESPP purchase and RSUs vest on Jan 1.

That all sounds positive but I am currently sending out $3100/month in rent for my 2/1 condo. I would like to stop paying my landlord's mortgage and start building my own equity, possibly with a MF househack; I still have a lot of work to do as far as analyzing the feasibility of the MF househack scenario in my area.

Up until recently I have focused on paying off debts and getting my income up, never really considered trying to buy property because I felt I didn't have the income needed to get into a place I would be happy to live. That changed about 6 months ago when I started a new job with a big tech company that effectively doubled my compensation overnight. My base salary did not change much from my previous role (about $150k) but in my new job I will be getting another $150k/yr in performance bonuses and RSUs. The job is going well and I anticipate staying for several years.

Obviously income history is important in the decision to lend, but I'm wondering how such a large step change in compensation will be viewed by lenders. Do I have to wait 2-3 years to build up my history of earning at this level before they will give me financing that considers these new forms of income (bonus + RSUs + ESPP)? How do they factor in the volatility of stock-based compensation? I plan to talk with some lenders, of course, but I like to prepare by having some idea how it will play out.