Loan application after changing jobs

Wages are broken into two basic categories. Regular Salaried and Variable. Regular Salaried would be someone who is paid a flat wage per pay period. ie: Bi-weekly @ $1,600 per pay period. This would be someone who is paid $1,600 per pay period without regard to how many hours they work. Another would be an individual paid hourly at a set dollar per hour, but the employer validates they are guaranteed a minimum of 40 hours per week. Essentially all other types of compensation are considered variable. These would include Overtime, bonuses and commissions. Current rules require an underwriter to analyze variable income from the same source for a period of two years. Anytime there is a change in employers, underwriting will only count the variable from the current employer. That said, if you changed positions in 2019, you should have your two year's with the current source and the change should not be an issue.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300