Can the bank average last two years income for mortgage approval?
Added (1). My bank submitted a mortgage application and i heard back today that it was approved. I'm worried because my bank advisor averaged my last two years income for the approval which doesn't seem right to me. My two years ago income is more than my income now. Will this get caught in the underwriting process or is the bank allowed to average the last two years of income. My 2 years income difference is 25k.
Added (2). I have a salary job and i'm not self employed
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