Can I use part-time income for a conventional loan?
Part-time income can count. The key questions are whether it is your only job or an additional job, and whether the pay and hours are fixed or variable.
What this actually means.
For Fannie Mae, fixed base pay has no separate minimum receipt history, while changing hours generally need at least 12 months. When you rely on multiple jobs, each income source has its own rules; two years is recommended, with some histories of at least 12 months allowed when supported. It is not a universal two-year requirement at the same employer.
A simple example
Illustration only. This is not an approval or a loan offer.
Where this can move.
One job versus multiple jobs, guaranteed versus changing hours, length of receipt, gaps, program and lender requirements.
Check the sources
Sources checked . Program guidance and lender requirements can change.
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More conventional questions on Income.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.