Base pay vs real pay? Also how much to keep current house?

[Anonymous]

Hi I am trying to figure out diff scenarios for how much house I can afford.  Im starting a new job at 23.00 per hour base pay. I havent gotten exact amounts but I should have a shift differential of at least 2.75 so Id be making 25.75 per hour. This is going to be the same every week. The mortgage guy said they can only count base pay for income? Ill also have on call hours and such. Im just starting this job so cannot figure an average over time. 

Is this true? 

Im also in the running for a weekend positon where the base is also $23 but shift differential is $9.00 24 hrs a week,   thats a large amount to not be able to count.  

Also We'd like to keep our current house thats in my husbands name only at 766 a month. How much extra do we need to make? Im starting a new full time job but can keep my old job at 16 hours  a week in order to qualify if needed and to save some money for back up and until we find a renter for the house. 

Thanks

Tara

[ezdriver]

Only your base pay will be considered ... until you achieve at least a two-year histiry of earings that include the additional income. Buy based onyour base pay and enjoy the mental comfort of knowing that you can comfortably afford whatever home you buy based on it.

[Anonymous]

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@ezdriver wrote:

Only your base pay will be considered ... until you achieve at least a two-year histiry of earings that include the additional income. Buy based onyour base pay and enjoy the mental comfort of knowing that you can comfortably afford whatever home you buy based on it.

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I agree with this 100%. It was tempting you use yearly bonus and overtime when determining how much house I could afford. It has been very consistent for the past 5yrs and would have allowed me an extra $200/mo for mortgage payment. That said I am glad that I used my base salary and found something I can afford using just that. Feels good to know when I do get bonus/overtime I can use it for fun money, emergency fund, etc and won't be losing sleep if I don't get it.