2011 vs 2012 income - effect eligibility?

[DuckMaster]

I was looking at our 2011 tax returns and I noticed my husband made significantly less in 2011 than he did in 2012 - almost $10,000. How will this effect how much we will qualify for when we go to get approved for a home loan? 

Also, random, but while looking at his credit report, TU reported a much higher credit score - by almost 1oo points than the other two agencies. Why could that be?

Thank you!

[Kozmo]

with re: to transunion...where did you get the score? If its a FICO from this site...and the other 2 scores you have are not FICO...that could explain it though even still that seems like a large difference. There are different kinds of scores...and depending on what ones you have that could explain a lot.

Your Equifax score from this site is spot on with what you lender will pull...so try that if you have not already.

[In-A-Limbo]

I'm having that issue right now. I have to write a letter explaining why my 2011 is $12k less 2012. I told them that I got a promo. LO said that this should satisfy the UW.

[foofighter74]

I think that all the UW is trying to do is establish, in the file, that the large increase in income is not a one time thing where maybe you earned a ton of extra commissions, or got a huge, non-regular bonus...something like that which would mean you're not likely to earn that in the future.

[In-A-Limbo]

I kept my promotion letter so I just turned in a copy to the UW. It stated the new salary and the effected date. I think that should do the trick.