My loan officer just actually called me and assured me that it wouldn't be an issue as they will look back at my income history and adjust as needed; basically they will take into account that its a bonus and adjust as needed. She also said that if i have too much in savings I could open another savings account at another bank and move some there since my credit report would not need to be run again. Does that sound right? Ps thanks for the help.
We use bonuses as a two year average. So if you had a total of $24,000 on bonuses for the past two years, we'd divide that by 24 and use $1,000 in bonus money for income. The credit report sounds right and the savings sounds right.
