When USDA reviews maximum income, they look at it based on “anticipated income for the coming year”. If a client received a true “one-time” signing bonus and is not receiving these bonuses as part of their income, then the lender would not need to count that in the maximum income.
Related Article Title: USDA – Income Requirements: Does a one-time signing bonus need to be included as income for the USDA maximum income requirements? Answer: A one-time employment signing bonus is not specifically addressed in the regulations, but the following is offered in the regulations that may help you. “Annual income is used as the […]