What annual income should I put in mortgage application if mine varies?

Im an electrical union worker. Im working full time with my company for 7 years however just last year was very slow so I was included in employee cut back but hired me back after 3 months when projects were back again.


after several months, I wanted to apply for mortgage, what do I write in my annual income since last year was different because I was laid off for 3 months?What annual income should I put in mortgage application if mine varies?
Take a 3 year average of what you put down on your taxes, that is how the bank will verify it anyway!What annual income should I put in mortgage application if mine varies?
Take the average for past 2 years.
I would put down the average you made during the last couple of years.
use a 5 year average
Best Anwser- Chosen by Voters








You need to call Frank IMMEDIATELY at 661-635-4900 or 919-802-3119 or 866-728-8587. He can get you financed with his network of over 400 lenders (up to 100%) even with bad credit. He has helped me with 4 properties and it has saved me thousands per month. He also helped me with foreclosures and made me a ton of money. He is an expert in this area.


http://www.realestatefundingnetwork.com
I read the other answers.


Has no one ever seen an Electrical Union Worker before? The multiple W2's? The gaps?





You have an hourly wage protected by the Union for you. Take your hourly wage, multiply it by 40 hours, then multiply that by 52 weeks, then divide that number by 12. You need a Letter of Explanation for the gap of no work (signed by you). You may need a Verification of Employment from the Union and/or your current employer.





About overtime...


Just email me!
take the seven years and average out the yearly income minus 20% overall that would be close to the number you need for your own good