Lenders are concerned with the income you have had that you can document, and they look for evidence that this income will continue, but they are not going to base a loan on anticipated income that may or may not materialize. But, you don't actually have to be earning the income currently if you can document that you will be earning it because the position has been pledged to you. You need to finalize the deals that will triple your income before you apply. You will have to provide documentary evidence satisfactory to the lender that it is a done deal. We don't think we will have the 20 percent down payment necessary to avoid mortgage insurance, but we can get money from various family members.
Lenders have two major concerns regarding intra-family transfers.
The first is that unacknowledged gifts from family members will be used to meet the entire down payment requirement. Lenders view loan applicants who have not been able to accumulate significant assets on their own as riskier than those who have. The second concern is with gifts that are really unsecured loans from family members in disguise. Lenders fear that a borrower who gets into financial difficulties will give first priority to paying off the family member. The rules governing financial assistance from family members reflect these concerns.