Switching from salary to commission causing loan complications?

[Charlie Chew]

Hey guys,

I recently spoke with a lender about getting prequalified for a loan, and explained to the gentleman that I'm about 4 months away from rolling over from a salary position to a purely commission based pay, and that my income would be increasing fairly significantly. 

His response to this was that it would interrupt the 2 years of steady income I've established with my job, since "any lender will ask, 'what were your commissions for the last 2 years with this job?'"

This sounds like BS to me, since there were a few other signs in the conversation that indicated that he may have been looking to close a deal sooner than later... 

Is there anyone on here who can comment on this? This was literally the first lender I've dealt with so I'm trying to give him the benefit of the doubt here... 

Thank you

[Russell Brazil]

He is absolutely correct. Get the loan while you have your w2 income. You will need 2 years of commission tax returns after that. You will qualify based off the lower of those 2 years as well.