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Hi All, I am currently under contract for a SFH, I am putting 15 percent down payment . I am trying to shop around for interest rate. While one lender told me they dont consider unvested RSU’s ( if you are not with current company for more than 2 years) Wells Fargo representative told me they consider unvested stock if I have received it from previous employer. Wells Fargo interest rate seems attractive to me but I feeling if they say no in later part of process then it would huge set back for me. Hence did anyone take mortage from Well Fargo if yes did they consider your unvested RSU’s Thank You #housing #mortgage #bayarea
Going through the process now. Transferred vested RSU to Wells Fargo brokerage for discount. They only consider vested stock for relationship discount. No way to get the relationship discount for unvested stock, but I suppose they will review it as an asset for future income.
Im not looking for asset transfer that
Nobody on earth consider unvested stock.
Unvested stock as future income
Yes but you need to have 2 year of vested stock history
They consider 2 years of history, doesn't have to be all at the same job
The Truth is that it’s an underwriter interpretation and comfort on Jumbo loans. Make it make sense to them that it is not a new type of income.
That completely makes sense ! Thank you
For me I have done this by showing the last paystubs received from prior year. And 2 current paystubs showing GSU payouts. And from there I show the history of receiving that income and future payouts via the summary provided internally in your respective tech companies.
this is really helpful
Feel free to DM with anymore specific questions!
They look at your rsu history over the past two years, and look at unvested stock to and take an average to figure out your income. So do they "consider" unvested stock? Absolutely. Do they consider it the way you would like them to? Maybe not. And yes, if you changed jobs, as long as you have a history of more than two years, they'll consider it.
How about bonus ?
Need two years of history. Not sure if it's from a different employer.