Can I buy a house on a commission-only job?

Typically you will need 2 years of history for the position. Have you been in the same industry for many years? You might get a lender to try and qualify you on a 24 month average of your current income. Talk to a local lender there might be options would need a lot more details

In order for your income to be considered stable the lender is required to average your commission earnings over the last 24 months. But if the most recent 12 months is less than the previous 12 months then they would need to just average the most recent 12 months since the income was less. If the most recent income is more than the previous 12 months then the income will be averaged over 24 months.

When you file tax returns, for 2 yrs that will work for income . IF you have unreimbursed employee expenses, like if you wrote off your car, gas, etc,,, there is a way to add that back into your income . linda

Lending guidelines require that if your commissioned, you need to be receiving commissions for a minimum of 2 years for that income to be considers in your qualify ratios. If your income is split between a base salary and commissions, it's possible you can use your base income for qualifying purposes.. 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

You need to have a full two years of commission income history before they will use your income to qualify you.