Income - JD Answers Questions

How far back does a mortgage lender look in regards to income verification?

May 28, 2025 2 min read Income

When applying for a loan, one of the key factors that lenders consider is your income. Understanding how far back lenders look for income purposes can help you prepare your financial documents and increase your chances of loan approval. Here's a detailed look at what you need to know:

Can my bonus income count toward mortgage qualification?

Nov 18, 2024 2 min read Income

Yes, bonus income can count towards mortgage qualification if it's consistent over two years, documented on paystubs and W2s, and verified by your employer.

Do mortgage underwriters use gross or net income for qualification?

Oct 25, 2024 3 min read Income

It depends. For most mortgage approvals, underwriters use the gross monthly income for W2 (non-self-employed) borrowers.

Can I switch jobs after closing on my mortgage?

Sep 30, 2024 2 min read Income

The journey to homeownership is a significant milestone, often involving meticulous planning and financial scrutiny.

Do I need to be at the same job for two years to qualify for a mortgage?

Jun 17, 2024 3 min read Income

Mortgage lenders require a look back at your employment over the past two years. It is acceptable to have switched jobs over those two years, have a small gap in employment, or even be in school over the past 24 months.