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Verify underwriter name

hey friends it's joe tafoya with salesmortgagebroker.com and today we're going to talk about everything that goes into fully underwriting your income you got full-time part-time overtime bonus commission so let's dive in income can be straightforward or it can be really complex it just depends on your situation so let's start with the simple stuff if your salary all you got to do is divide by 12. it's that easy if you're hourly you got to calculate the average number of hours that you've worked per week over the last two years plus your year to date if the hours are low inconsistent or random the underwriter is going to ask for a reason why maybe you've been building a family or had a life circumstance variance isn't necessarily a deal breaker but it does require further examination now if you're receiving overtime that's got to be documented it must be from the same company and it's going to be average using the same calculation as hourly pay and it must be likely to continue basically they want to see a consistency across the board so what does the underwriter need from you as a full-time employee a simple verification of employment and don't let the big words scare you the hr department does this all the time if you don't like that you can always grab your year-end pay stub for the most recent two years in lieu but what about the bonuses and commissions it's the same as overtime but be aware you'll have to show your tax returns due to potential write-offs if you're counting commission income remember consistency is the name of the game when it comes to counting income for your loan if you have any questions at all please feel free to reach out to us at questions at seattlemortgagebroker.com thanks have a wonderful day