So last year due to COVID I was laid out of work for almost 6 months (almost cause 6 of those weeks was paternity leave). Due to this my income was effectively cut in half, which is reflected on my W2s. This year I’m back to work full time and making my normal wages, the outlook is good and I should have stable work for the future.
My question is if I try to get pre-approved, will last years income hurt my pre-approval amount? Will I not qualify for as much as I would have if I worked a full year last year?
In the Bay Area, so naturally the housing market (which was already a deathmatch before) is now turned up to 11.
Realtors act like God’s out here, with no regard for customer service because everyone is so desperate to buy a tent for half-a-million.