Memphis Business Daily

How does earning commission affect what you can get for a mortgage?

Lets say I made a basic of £15,000 per annum but with commission it was more like £30,000. How much of a mortgage could I get? I know its roughly 4 times your salary but would this change due to the commission?

Public Comments

1. No, but you do have to be working the commission job for 2 years before you get the loan based on the 30,000 otherwise they will go off your base pay of 15,000.
2. Typically lenders need to verify that the commission has been consistent and stable for 2 years before they will consider it as qualifying income. This does vary some though depending on the lender.