Get a mortgage with Tesla as employer

Apple jilo18
Jun 20 7 Comments

Did any of you get a mortgage while employed by Tesla?
What is the discount that the bank applied to your unvested RSU?

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TOP 7 Comments
  • E*Trade / Finance cbEV72
    Wtf RSU has to do with this? Discount?
    Jun 20 0
  • Tableau / Ops lIIll
    More depends on your bank than employer. Even within a bank, it depends on your loan officer and underwriter. Mine would not consider RSUs at all.

    I encourage you not to take any loan beyond what your salary qualifies you for anyway. Your mortgage should be easily repaid. Aim for early financial independence. It’s the only way to be truly comfortable in old age. But that’s none of my business.
    Jun 20 3
    • E*Trade / Finance cbEV72
      What do they use rsu for?
      Jun 20
    • Tableau / Ops lIIll
      They could use RSU for income consideration, but mine did not. Mine was salary only for mortgage qualification, despite half my income being RSUs.
      Jun 20
    • E*Trade / Finance cbEV72
      Got it, for dti to come up with max loan amount
      Jun 20
  • Tesla QgXe58
    No discount, Tesla is just an employer. They want every single financial detail for qualification and approval. Stocks were factored in as savings at the time. Your Tesla W2 income includes income from any stock sales and you will need to be able to explain the difference between base income and actual income. They're now especially strict on any foreign income or accounts.
    Jun 21 0
  • Facebook ExPo20
    Tesla is immaterial, every bank will have some rate for unsold RSUs regardless. BofA was like 50% or something
    Jun 20 0

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