2 years income history at new all commission job to get mortgage??

This is true.. if you go from a salary/hourly/W2 paid employee to a 100% commission paid employee, then you need to wait till you have 2 full years tax returns to demonstrate to the lender that you can earn enough under the new pay structure to support a new housing payment.. I had a borrower who had been in commercial real estate for 15 years, and his company got bought out, and they switched to 100% commissions.. perfect credit, high wage earner, 30% down payment, no debt.. still could not get him approved.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Was any percentage of your income from your previous position commission based? If so that might make all the difference, depending on what your front end/back end ratios are based off that specific commission based income averaged over the last 2 years. Additionally, if you are receiving a draw against commissions, that information would be helpful.

Yes it is true no way around it.

You only need 1yr. of taxes if you go conv. with 20% down. Barclay Butler 224-420-9990. bbutler@barclaybutlerfinancial.com. Call or email.

Sorry for 1st post, did not put email or phone #. You only need 1yr. of taxes if you go conv. with 20% down. Barclay Butler . . Call or email. bbutler@barclaybutlerfinancial.com, 224-420-9990.

Response: Depends on how much that income is in a dollar amount (%) compared to the loan size you are looking for. I would recommend having a Loan Officer run your scenario through an A.U.S. (Automated Underwriting System) and review the findings. Findings are the results that are going to spell out in detail what you would need to provide in order to meet all underwriting guidelines. I had a client with a very paralleled situation recently that had over a 740 FICO Score, so we had no issues.

Hi:If you just started as commision, you would need a non-occupying co-borrower to help you. Please call or email me to discuss this option or other options we may be able to thelp you with. Best regards,Patty HarrisonSmart Mortgage630-854-3459

That does help you, call me so we can see what we can do. Barclay Butler