I work in the pipeline industry can I use my per diem and mileage as part of my income for mortgage
I'm guaranteed a day rate for 5 days a week if I work Saturday and Sunday I also get paid a day rate for those my per diem is 1200 a week roughly guaranteed 7 days a week I have read about a hundred miles a day thank you by nsmith62072190 from , California. Apr 16th 2018
Per diem shouldBe usable so long as you have a 2 year history (like part time job income) and your employer indicates it is likely to continue. It really depends on how it shows on a paystub or a verification of employment. No mileage income as that is reimbursement for gas and maintenance
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Per-Diem income is not allowed to be used as qualifying income,, neither is reimbursed mileage, regardless of how long you have been receiving it. I've had countless scenarios where borrowers received per diem and it's never been accepted as allowable income.. it can however be used as down payment or reserves.. but not income. anyone telling you differently is probably not a seasoned loan officer. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
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