Income concern.

[mommyof4]

We are in the process of trying to qualify for a mortgage loan.  Myself and DH have been on our jobs for over 11 years, but his income is a concern of mines. His job issues two checks to him weekly; one for regular pay and another for over time. As a part of his job he has to work over 40 hours a week, but they issue anything over that on a separate check. Well we run into a issue with this?

[Anonymous]

You shouldn't ....

You should be able to claim salary (40 hours) than for anything over, you put in the "Other Income"   He has a "guaranteed" amount, and a "non-guaranteed" amount.

Assuming your combined salaries are well within the lending threshold, you should be fine

[Anonymous]

As lenders, we don't really care as much about the checks as we do about the history.  In your example, 11 years is a lot of history and your approval should take about 15 minutes to go from hello to a preliminary approval. 

Hourly is a little different than salary, but yes, you should be fine.  Roughly, without doing your acutal qualification, your income should total something like that "main check" plus a two year average of what that overtime totals. 

[mommyof4]

Thanks for responding.