We're able to consider the following income types:
- Employment/Self-Employment Income: Salaries, wages, commissions, bonuses, and business income payable to you individually.
- We may request documents to verify this income, such as a recent pay stub dated within the last 30 days that shows your Year-To-Date (YTD) earnings, W-2 forms, or tax returns from the most recent two years.
- Future Employment Offer: We may consider future income if you’ve received an employment offer that starts within the next 6 months.
- We will request that you upload an official offer letter from your employer to verify your future income. The letter must include your name, the employer’s name, your compensation details, and your start date.
- Non-employment Income: rental, interest/dividend, retirement, social security benefits, permanent disability, alimony & child support.
- We may request documents to verify this income, such as a recent tax return, lease agreement, award letter, final divorce decree, or other legal documentation outlining entitlements or obligations.
Short-term income, such as unemployment, is not eligible for consideration.
We aim to credit you for the total gross income you expect to earn this calendar year. To include this income in your application, it must come from a stable source and be verifiable through documentation. We look to see that you earn more than you spend (i.e., have a positive cash flow) and that your income is high enough to support your total debt load.
The structure of your income may impact how we verify its stability and amount. If you’re unsure what income to include in your application, please feel free to contact our Client Happiness team by clicking on the “Get In Touch” button at the bottom of this article.