I believe standards are the means by which we create our realities. I hope you search to meet your standards, make good decisions and have a productive time on my site today

Mortgage Professionals

Where Desire Becomes Reality

CYNTHIA ALDAY

NMLS# 9150651 

Licensed Mortgage Originator

Direct 612-483-4687

email: mortgages@commissionables.com

Note: Unreimbursed business expenses will be subtracted from gross income

Dedicated to Serving Others

I am a Licensed Mortgage Loan Originator, Licensed Cosmetologist, Self-Employed Entrepreneur and I am paid commission.
Everyday there are new experiences, new people, new needs, a new income scenario to add to a minutiae of calculating methods and factors I use for qualifying each individual.
I am dedicated to your success and at your service.

If you’ve recently accepted a new role with a commission-based salary or if you have been engaged in commission-based salary and recently changed employers, there are loan programs available (Fannie Mae and FHA) that will accept less than two-years worth of commission-based income.

 

Each loan program has different guidelines for using commission-based income for mortgage qualification. The requirements for some of our loan program options are shared below.

Loan Program Guidelines for Commission Income

If you receive commission income, you can use it to qualify for a mortgage as long as the proper documentation is shared with your loan officer to verify the income. Before you begin your mortgage application, be sure to gather:

Two years worth of W-2s from your employer

Your most recent pay stub

One commission check from your employer

 

The documents above help your lender verify that your commission income is consistent and will continue in the future. Income verification is an essential part of the mortgage qualification process because a lender must be able to confirm that you have the necessary funds to support your new monthly mortgage payment.

The Bottom Line

All in all, self-employment and commission-based income requires a few extra steps for verification. If you’ve earned at least two years of this type of income and have a strong financial history, you should be on your way to mortgage approval.

If you have less than two years of this type of income, it is still possible to qualify with the right loan program and other qualifying factors. Before ruling out any options, be sure to consult with a loan officer to see what steps are necessary to make your dream of homeownership a reality.

If you are not sure if you are ready at least take advantage of My Free Tool & Help Me Qualify.

Real Estate Professionals

Insurance

Financial Advisors

Grow Your Wealth & Thrive

Business Service Providers Vetted Especially For Commissionables

Dan Phlugshauft

Real Estate Agent

Representing
Buyers and Sellers

Homes & Lots
Commercial Property
Water Front

H. Michelle Dimitrov

Healthcare Agent

Licensed in 32 States. USHealth Group


A United Healthcare Company

Cynthia ¨CC¨
Alday

Licensed Mortgage Broker

New Purchases Refinance
Commercial
Hard Money

Resources & Links

Where Desire Becomes Reality
Logo