Good News…Tipped Employees Can Purchase a House Too!

Home Loans For Tipped Employees

The good news? Tip earners can purchase a house just like anyone else. The not so good news is, you must report all your tip income to the IRS. I know that’s not the answer you want to hear, but if the income is not claimed, it cannot be used. The reason is, underwriters average the last 2 years of your income to determine how you qualify as a buyer when the income is variable. So, if your tip income isn’t claimed, your buying power is going to be a lot lower than if it is claimed to the IRS. And everyone else, make sure you tip your servers, you could be helping them buy a house in the near future.

We have helped many buyers borrow with tip income, reach and lets put your buying and mortgage plan together! That’s your mortgage minute 

Chat with us today!

For more details on how to prepare and what to expect at your first meeting with a mortgage professional or if you are interested in getting started on your loan approval process, please contact our Hunter Home Loan Team at 727-315-1635.

Leave a Reply

Your email address will not be published. Required fields are marked *

Find Out Your Home's Current Value

Tampa Bay Times People's Choice 2019 Best of the Best award