When home lenders review your income, they are looking to see if it seems stable & predictable, and also whether it fluctuates. The key driver of successful homeownership is confidence that all of the income used in qualifying a borrower will continue to be received for the foreseeable future. If you are not sure, just contact me. I would be happy to discuss your situation!
Related Article Title: Will Fannie Mae Allow Gambling Winnings as Income? Question: My client is a semi-professional gambler with a 10-year history of income. His 1040 shows “gambling winnings” on line 21 “other income”. Do I average the two years to get a monthly income, and more importantly will underwriting or Fannie Mae accept this […]