Forgotten Your Password?

Need to Register?

Question Icon

Can I use my part-time Uber income when qualifying for a home loan?

I have had my full-time job for over 10 years and started ubering at the beginning of the year. Will they use my part-time income from uber as a part of the loan by modero.jenna421 from Miami, Florida. Jul 11th 2017 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,477 contributions

Generally speaking, all your standard loan products require you to have a part-time job for TWO YEARS before we can use that for qualifying purposes, and then we will average that over the two-years to determine how much we will give you. So with just starting in earlier this year, you will NOT be able to use it as mortgage loan qualifying income.

Jul 12th 2017
1
0

Its funny seeing this question, ive financed 3 uber drivers recently and answer is yes.. but it is tricky. Uber does not offer paystuff or statements .. all income records are generated on your driver accounts and changes daily.. give me a call so we can go through the details or find someone who has actually done loans for uber drivers.. Im Pete 347 875 7506

Jul 12th 2017
0
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,477 contributions

Copied Straight from Fannie Mae Guidelines: Verification of Secondary Employment Income: Verification of a minimum history of two years of uninterrupted secondaryemployment income is recommended. However, income that has been received fora shorter period of time (NO LESS than 12 months) MAY be considered as acceptable income, as long as there are positive factors to reasonably offset the shorter income history. A borrower may have a history that includes different employers, which is acceptable as long as income has been consistently received.

Jul 13th 2017
0
0
Subscribe to our news feed.