I made 22k more this year than last year (same company). Will lenders average the last two years, or will they use the higher number for qualifying for a loan?

If you are a Salaried individual - we will use your current salary. If you are an hourly employee and the increase was due to overtime - then we will average the 2 years. If you have any other questions - you can email me directly at tliolos@paragonhomeloans.com

T Liolos has it correct for most of us...if it is simply a raise in salary then most likely you will get credited for the additional income. If it is anything other than salary (i.e. bonus or overtime) that gets averaged over a two year period and added to gross salary.

It depends on how you get paid.. if you are a W2 paid employee paid hourly or salary, then your current income will be used, but if you are paid commissions, then they will take the average of 2 years.. 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 NMLS# 226347