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Updated about 5 years ago on . Most recent reply

User Stats

6
Posts
2
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Josh Sobczak
  • Mount Pleasant, SC
2
Votes |
6
Posts

How to get pre-approved with commission income less than 25%

Josh Sobczak
  • Mount Pleasant, SC
Posted

QUESTION: What does the approval process look like when commission makes up about 15% of your income, and the rest is a base salary? 

I’ve read that when commission accounts for 25% or more of one’s total income, lenders typically will want to see at least two years of employment at the same job. 

I am a recent college-grad and have only been in the workforce for about three months. Commission accounts for roughly 15% of my income. My goal is to purchase my first house hack this summer. Will I be able to get approved?


Thanks in advance!

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