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I Get Paid on Commissions

 

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If you work in sales, much of your income probably comes in the form of commissions. Since your income is not guaranteed, mortgage lenders may see you as a bit riskier than people who earn regular salaries. Don't worry. Plenty of people who work on commission get mortgages.

The bank will look at your earning history. If you have a consistent history of earning commissions - so that it looks like a salary - it will be easier for you to get a mortgage. You will have a bad month or quarter from time to time; it happens. An overall trend of success is what matters. If you can show that your commissions have grown over time, you become even more attractive to the banks.

Mortgage lenders just want to make sure that they will get their money back. Your job is to show them that they do not have to worry. If you have been in sales for a while and can show that you always pay your bills, you should have no trouble securing a mortgage.


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