Bonus & Commission Won't Count? Here's Why Lenders Say No

Bonus, Commission & Overtime Income for Mortgage Approval | How Lenders Calculate It Do bonus, commission, and overtime count as income when qualifying for a mortgage? Yes—but only if it’s consistent and predictable. In this episode of Mortgage Matters in Minutes, Brent Rasmussen, owner of Mortgage Specialists, explains how lenders calculate variable income and why many borrowers get surprised during pre-approval. ✅ What you’ll learn in this video: Why most loans require a 2-year history of bonus, commission, or overtime How lenders average variable income to determine what can be used Why year-to-date income matters more than what “might” happen later What happens with declining income (and why lenders use the lower number) How pay changes (salary → commission) can force a waiting period What documents help most (pay stubs, year-end stubs, VOE, W-2s) If your income isn’t a simple salary, getting pre-approved early is key—especially if you want to maximize qualifying income. 🔗 Helpful Resources ☑️ Apply for a mortgage: https://mtg-specialists.com/online-application/ ☑️ Schedule a call: https://calendly.com/mortgage-specialists-omaha ☑️ Call: 402-991-5153 ☑️ Blog: https://mtg-specialists.com/blog/ ☑️ Reviews: https://tinyurl.com/55zft5ef 📱 Follow Mortgage Specialists 📘 Facebook: facebook.com/mortgagespecialists 📸 Instagram: instagram.com/mortgagespecialistsomaha 🐦 Twitter/X: twitter.com/MTGSpecialists Timestamps for MMM 193: How Bonus, Commission & Overtime REALLY Work in Mortgage Income Calculations 0:00 - Intro 1:58 - What's needed to Calculate Extra Income 3:25 - How to Calculate Overtime & Bonus Income 4:59 - Pre-Approval using Extra Income 5:28 - Declining Income 7:00 - Conclusion 7:49 - Outro Licensing info: Brent Rasmussen, NMLS 5918 at Mortgage Specialists, LLC NMLS 2424 For licensing, go to www.nmlsconsumeraccess.org Address: 8420 W Dodge Road #113, Omaha, NE 68114 Equal Housing Lender Website: mtg-specialists.com Applicant subject to credit and underwriting approval. Restrictions may apply, contact Mortgage Specialists, LLC for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Mortgage Specialists, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Mortgage Specialists, LLC. Mortgage Specialists, LLC and its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Mortgage Specialists, LLC is a limited liability company organized under the laws of the State of Nebraska. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency. Mortgage Matters in Minutes Episode 193: How Bonus, Commission & Overtime REALLY Work in Mortgage Income Calculations