The verification of employment has gone to my HR department and there is one thing that I'm wondering about... they are asking for my income for 2010, 2011 and the YTD for 2012. My income rose between 2010 and 2011 by 18% and then between 2011 and 2012 by 40% (two promotions). They have my current paystubs showing my salary amount and that is what we've based my DTI upon. My question is this: Will my drastic income changes have a negative impact on my approval? Has anyone had a similar experience? I've only been in my promoted position since last November, although it's still with the same organization.
Starting Score: EQ 622, TU 676, EX 643 (mtg lender pulls) 2/1/12
@BoysMumx2 wrote:The verification of employment has gone to my HR department and there is one thing that I'm wondering about... they are asking for my income for 2010, 2011 and the YTD for 2012. My income rose between 2010 and 2011 by 18% and then between 2011 and 2012 by 40% (two promotions). They have my current paystubs showing my salary amount and that is what we've based my DTI upon. My question is this: Will my drastic income changes have a negative impact on my approval? Has anyone had a similar experience? I've only been in my promoted position since last November, although it's still with the same organization.
Wow, I wish I had your problems..... 
Seriously I can't think of any scenario where this would be an issue. If it is documented with your employer then I don't see how it could hurt you.
Thanks for the reassurance! I definitely know that I'm blessed. It's offset by DH being unemployed and a student, but we know that we are very lucky. I just don't want the underwriter to come back on it. That would be the pits!
@BoysMumx2 wrote:Thanks for the reassurance! I definitely know that I'm blessed. It's offset by DH being unemployed and a student, but we know that we are very lucky. I just don't want the underwriter to come back on it. That would be the pits!
Yeah, I think you'll be just fine. I'd start priming your boss for the conversation about this year's 80% raise....
Wouldn't want to break the cycle. Heck just tell them you'll settle for 50% this year......
@pizzadude wrote:
@BoysMumx2 wrote:Thanks for the reassurance! I definitely know that I'm blessed. It's offset by DH being unemployed and a student, but we know that we are very lucky. I just don't want the underwriter to come back on it. That would be the pits!
Yeah, I think you'll be just fine. I'd start priming your boss for the conversation about this year's 80% raise....
lol! Sadly, I'm a state employee and our raise was a GIANT 2% going into this next fiscal year! Of course, this is actually the first raise we've had in 5 years, so I'm even more blessed to have had the chance to promote two times in the last 2 years. On top of all that, I have the absolutely best boss and team ever. If it hadn't been for the last promotion, my family and I wouldn't be able to buy a house for years, so I think I'll just sit back and be a happy camper about that 2%!! 