I have a question regaring mortgages and relocation:
Here are the details:
Recently I have accepted a new role in a different state. My wife will be relocating with me and will, 90% probability, need to find another job in the new area.
My role will be changing from a commission based program to a bonus based program. I have been with the company 12 years, and same company with the relocation.
So...... Here are the questions I am stumped over!
Will the Underwritters include my wife's income if she is still working at the time of the purchase? no. unless she can keep the job. work from home or commute a reasonable distance
Can I count my comission even though my compensation program is changing to bonus in place of comission? nope. we use the new income only.
If they do not count my wifes income, can she secure future employment and then supply an offer letter for income in a similiar field? some lenders in the past would use an offer letter. me included. but i havent been abe to do that in a long time. call around and ask local lenders/