Belt Auction

Is it hard for real estate agents to get a mortgage for themselves because of the commision based income?

I am studying to become a real estate agent but am worried I will not be able to get a mortgage for myself because R.E. agents aren't paid a salary rather commision.

Public Comments

1. Realtors are considered self employed people, even if they work for a company like Century 21. Yes, most of their earnings are from commissions, but it is just like any other self employed person, i.e. an independent plumber. They both make money which varies from year to year, and they both have expenses that vary as well. The banks look at the past 2 years typically, along with credit score and rating. I'm a broker and i never had a problem getting a mortgage, but i make good money and have a credit score of 830.
2. They are like any other self employed person, loans are based on their income for the last 2 years.