Salaried employee with commission and bonus - applying for FHA

You should not have an issue.. Since you have been in the same line of work for 6 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. 480-287-5714 WilliamAcres.com

I agree with lbennett, shouldn't be an issue with the proper documentation, especially if your income for the past 13 months has been pretty consistent with what you earned at the previous job - or more. It will also depend somewhat on the strength of your overall application (debt ratio's, credit score and profile, reserves, etc.)

Since you have been in the same line of work for 6 years they certainly should. They are going to ask you and likely your employer about your current compensation agreement and how it will work in the future.

It depends. If your old comp plan had commissions and bonuses, then the underwriter will use a 24 month average of each. If your old job was straight salary and the new one has commissions and bonuses, then the underwriter will probably not use either in qualifying you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

You should be fine. As far as the bonus, it will depend on if you had bonus pay in your previous job.

You should have earned bonus from the same employer for last 2 years to be counted towards qualifying income.

Most likely they will not use the bonus income if it has not been consistent for 2 years in the same line of work- not necessarily the same job. You will have to document that you received commission and bonus from the previous employer in order for it to count. Sounds like base plus commission minus bonus will be your allowable income.