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Average 3 years income???

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Anonymous
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Average 3 years income???

Can or will a bank ever Average 3 years income for a mortgage approval? In my situation a 3 year average would help he better than a 2.  2014 was a little low where 2013 was really high and 2015 was normal.

Message 1 of 5
4 REPLIES 4
Imperfectfuture
Super Contributor

Re: Average 3 years income???

Mine just goes with the current year. Shop around for lenders.
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Message 2 of 5
Anonymous
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Re: Average 3 years income???

Are you self employed? I believe the only time they are averaged is for the self employed and business owners, and as far as I know, it's only 2 years, but you can always call around to different lenders and ask. 

Message 3 of 5
Anonymous
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Re: Average 3 years income???

What is the reason for the fluctation? And what type of income? Self-employed or W2? If W2, salary or hourly?

Message 4 of 5
Anonymous
Not applicable

Re: Average 3 years income???

I am a w2 employee in the industrial construction field. My pay really depends on how much I want to work. 2014 I took 5 months off.
Message 5 of 5
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