Calculating Income For Union or Skilled Trades
Determining income for union workers comes with unique challenges. Unlike conventional employment, these workers typically take on a series of short-term assignments. They don’t job-hop in the traditional sense; rather, they’re dispatched by their union halls to work on projects, moving from one to the next as assignments are completed. You’ll commonly see electricians, welders, […]
Variable Income Calculation: A Complete Guide for Lenders
Variable income presents unique challenges in mortgage underwriting due to its fluctuating nature. Unlike fixed salaries, this type of income can vary over time, making it harder to assess stability and predictability. As a result, lenders must apply careful analysis and follow consistent documentation and calculation practices to determine whether variable income can be used […]