3 ms·
Not entirely, RSUs are harder to use when qualifying for a mortgage.
by mrep 5y ago
Not entirely, RSUs are harder to use when qualifying for a mortgage.
- grogers 5y agoWouldn't you just show your N most recent W2s to your bank? Why would they care about your comp breakdown?
- mrep 5y agoNot for US mortgages, here is what my mortgage broker sent me as a requirement for the second home I am looking to buy: OK – we can use the RSU’s with the following conditions: Your borrower will need to have a 2-year history of liquidating the RSU account and evidence the RSUs are received as part of the borrower's regular income. Fannie Mae requires you obtain the issuance agreement, schedule of share distributions, vesting schedule, evidence the stock is publicly traded, and evidence of payout of the RSU per YTD paystub and W-2s for the most recent 2 years. Freddie Mac requires the same in addition to a 10-day PCV. The income will be required to continue for a minimum of 3 years. If you can get me these items highlighted above, I will send to Underwriting for them to calculate the income and get us a valid number to use for qualifying.
- sydthrowaway 5y agoThis seems extreme. I think FAANG will get waived. This is probably RSUs for some SPAC company.
- mrep 5y agoNope, I work for Google.