Use these comparisons for planning; final eligibility, pricing and terms are set by the provider.
Loan routes for this income profile
| Financing route | When to compare it |
|---|---|
| Conventional Mortgage Loans | Compare documented base and variable-income treatment. |
| Mortgage Application Document Checklist | Organize the employer and pay records needed for the bonus review. |
| Mortgage Loans Using Commission Income | Use a separate analysis where commissions are a material share of pay. |
Build two payment budgets instead of spending the latest bonus twice
Use one scenario with base pay only and another with the lender’s accepted bonus calculation. A recent exceptional bonus may be unsuitable as a recurring assumption. Show the history and employer explanation, and keep the bonus used for closing cash separate from the income used to support future payments.
Income and qualification review
Prepare a base-pay-only budget alongside a scenario using any bonus income the lender accepts. A mortgage payment due every month should not depend on an optimistic year-end award. Explain changes in bonus plans, employer policy or recent performance rather than assuming past awards will repeat unchanged.
A specific financing scenario
Illustration: $6,000 monthly base pay and an $18,000 annual bonus would equal $7,500 monthly income if the entire bonus were annualized. That calculation is not a promise that underwriting will use $7,500.
Documents and transaction inputs
| Document or information | How it is used |
|---|---|
| Pay statements | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Bonus history | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Employer compensation terms | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Tax records | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Evidence explaining recent changes | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
Compare payment, upfront cash and exit cost
Compare the same property and loan purpose across documentation routes. Show the down payment, mortgage insurance, points, lender fees and retained reserves separately. A lender’s higher qualifying-income calculation does not make a larger payment comfortable. Test the payment using income you can reasonably maintain, including a lower-income scenario when earnings vary.
Run the relevant calculation with your own figures; a modeled amount is not an approval or provider quote.
How to move from comparison to the actual provider
Choose the product route that addresses the circumstances above. Confirm that the actual provider accepts the income, property, state and transaction purpose. Request the current documentation and written terms through its verified channel, then compare an alternative on the same assumptions. Do not upload documents or rely on a financing deadline merely because a comparison tool returned a result.
Eligibility and repayment limits
The program and provider decide what evidence is acceptable. Use this page to prepare, then confirm eligibility, property requirements and documentation directly with the provider. Borrowing secured by property creates a risk of losing that property if the obligations are not met. Compare a smaller request or a different route when the proposed payment leaves inadequate reserves.
Questions about this financing route
Should I build my budget around the maximum possible bonus?
That would leave little margin if the award is smaller or delayed. Use a conservative household scenario and ask the provider separately how much of the documented history can be used for qualification.
Select a financing route
Program references and comparison sources
CFPB: Understand the different kinds of loans available — Loan structures, terms and repayment risks; not provider-specific eligibility.
CFPB: Loan Estimate explainer — Comparison of covered mortgage disclosures, cash to close, points, lender credits and monthly costs.
Check the linked source for its effective date and applicable scope. A source link is not a lender partnership or an individual offer.