Home Loan Basics Part 2: Self-Employed Income, Bonuses, Overtime & Commission
Welcome back to the Home Loan Basics series! In Part 2, Jeff McGinnis, your trusted loan officer at CrossCountry Mortgage, continues to demystify the world of home loans. This time, we're diving into the intricacies of self-employed income, bonuses, overtime, and commission, and how they impact your mortgage application.
In this video, you'll discover:
- How self-employed individuals can prove their income to secure a home loan.
- The ins and outs of including bonuses in your mortgage application.
- Understanding how overtime pay factors into your income assessment.
- The role of commission income and how it affects your borrowing capacity.
Jeff's expertise will help you navigate the challenges and opportunities that come with various income types. Whether you're a freelancer, receive irregular bonuses, work overtime, or rely on commission-based income, this video will provide valuable insights to ensure your mortgage application is a success.
Stay tuned for more episodes in this series as we unravel the complexities of the home loan process. Don't forget to subscribe, like, and hit the notification bell to stay up-to-date with our latest content.
If you have questions or specific scenarios you'd like Jeff to address in future episodes, please share them in the comments below. At CrossCountry Mortgage, we're committed to empowering you with knowledge to make informed homeownership decisions.
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All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. CrossCountry Mortgage, LLC (“CrossCountry”) does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by CrossCountry.