Hi Ms Nicole. I am from California. I saw one of your videos about OT income. I have been working at my current Job for 20 months and have consistent and increasing OT income. I am a nurse. My problem is that I have been pre approved by 2 lenders. First Lender which is Sofi pre approved me for $525k. This gave me confidence to go out and shop which led me to the second lender who is owned by a builder Dr Horton. Now I am under contract on a Dr Horton new construction. Yesterday my Sofi lender informed me that my max loan amount was lowered from 525k to 425k. They would not include my OT income because I worked at my current job for less than 24months. The house I’m under contract with is 519k. I already gave my earnest deposit of 5k. I am worried that dr Horton lender will do the same as the other lender. Will you be able to help me about my situation? Thanks.
Good morning! The DR Horton Lender might tell you the exact same thing. We can use the 20 months so I would go ahead and ask the DR lender right now if they can use your overtime so that you don’t lose any more sleep over this. If they do then great you’re set up for success if they won’t then let’s talk and get you approved so that you can buy that DR Horton home and use us as a lender.
