A straight answer
Does my RSU income count for a mortgage?
The direct answer
It can, but not every stock award qualifies. Before I check which purchase or refinance programs may accept it, I review what you have actually received, how long you have been with the employer and the terms of the award. I'm Zach von der Linden (NMLS 1652805), a mortgage broker with West Capital Lending, based in San Clemente.
I arrange loans with lenders and put the financing together. The distinction that matters is between stock you have been granted and stock that has vested and been paid out to you, because the written rules count the second and not the first. Text or call me with whether you are buying or refinancing, the property state, and whether your awards are recurring or part of a sign-on package, and I will tell you what I need to review. I work with homeowners in California, Utah, Oregon and Arizona.
Zach von der Linden, mortgage broker and Branch Manager, West Capital Lending · NMLS 1652805
Wholesale pricing · California, Utah, Oregon and Arizona
5.0 across 66 reviews on Experience.com (read on 2026-09-24) · Text reaches Zach directly · Last updated 2026-10-16
Paid partly in stock? Text me whether you are buying or refinancing, the property state, and whether your awards are recurring or part of a sign-on package. I will tell you what I need to review.
No credit pull happens from a conversation. Texts go to Zach's cell.
How much history do I need before my RSUs can count?
It depends on the kind of award, and the rulebook I can quote is Fannie Mae's, which governs loans sold to Fannie Mae and is not a rule for every lender. A time-based award needs a minimum twelve-month history from the current employer. A performance-based award carries a recommended two-year history; income received for a shorter period, but no less than twelve months, may be considered where positive factors offset it, and the guide names two: future vesting equal to or greater than previous vesting that will continue for at least twenty-four months, or restricted stock income received for the previous five years from any employer (Fannie Mae Selling Guide B3-3.3-07).
Continuance is read from the vesting schedule. For a one-time time-based award, the lender documents that the income on the schedule is expected to continue for at least three years from the application date. For recurring awards and for performance-based awards, the lender is not required to verify continuance unless it has reason to believe the income may not continue. The award agreement tells me which kind you have, and the vesting schedule tells me the history.
Freddie Mac keeps its own written rules for restricted stock income. A 2024 bulletin added its definitions of performance-based and time-based awards, set its own history and continuance tests, and moved its price measure to a 200-day simple moving average (Freddie Mac Bulletin 2024-13). I could not open the current Guide sections on the day this page was written, so I do not restate them here; the lender confirms which rulebook your loan follows.
Why doesn't my sign-on RSU grant count?
Because Fannie Mae's topic excludes it in one sentence: sign-on bonuses received in the form of restricted stock that vest over any length of time are not eligible to be used as qualifying income. That is a rule for loans sold to Fannie Mae. It does not by itself tell me how every program treats a sign-on grant, so if a lender declined yours, I read the written reason and check the programs I can place rather than assume the answer.
Your recurring annual awards, if you have them, are reviewed separately from the sign-on grant. One excluded award does not remove the others from the file.
How do lenders calculate vested stock income?
Fannie Mae separates awards paid in shares from awards paid in cash. For income paid in shares, the guide's formula, transcribed as written, is: (200-day moving average of share price x total number of distributed vested shares (pre-tax) in most recent 24 months) / 24 months. For income paid in cash, it is the cash distributed, pre-tax, equal to the total value of vested shares in the most recent 24 months, divided by 24 months. Where the history is between twelve and twenty-four months, the lender may divide by the actual number of months the income has been received instead.
Two things follow from the formula. The shares counted are the ones distributed and vested, not the ones granted. And the price is an average over time rather than today's quote, so a stock that has run up recently can count for less than your brokerage statement suggests. This page shows no share count, no price and no income figure; I run the arithmetic on your vesting statements and tell you the result before you shop.
Does my employer have to be publicly traded?
Under Fannie Mae's topic, yes, as a documentation item: the lender must document evidence that the stock is publicly traded, alongside the current vesting schedule showing past and future vesting, the 200-day moving average stock price for awards paid in shares, and a brokerage or bank statement showing receipt of the previous year's distribution with at least the number of vested shares or the cash equivalent. Employment itself is verified with a completed verification of employment form showing the distributions, or the most recent pay stub showing restricted stock income plus two years of W-2s, and a verbal verification.
Private-company equity cannot meet the publicly traded item, and I do not imply that it qualifies elsewhere. Whether any other program documents it differently is checked with that lender, and requirements vary by program and lender.
Why won't my FHA lender count my RSUs?
Start with the written reason, because the handbook does not answer this question directly. HUD Handbook 4000.1 lists the income types an FHA lender may count and has no section on restricted stock. It defines employment income as income received as an employee that is reported on a W-2, and it requires effective income to be reasonably likely to continue through at least the first three years of the mortgage (HUD Handbook 4000.1). How a lender treats vested stock that appears on your W-2 is that lender's reading of those rules.
The VA lender handbook's underwriting chapter likewise has no restricted stock provision. It says not all types of income can be listed, asks for a history of receipt and a likelihood of continuance for at least three years, and tells the lender to underwrite each loan individually (VA Lenders Handbook, Chapter 4).
An FHA or VA decision does not tell me how every mortgage program will treat your compensation. I review the written reason and check the requirements of the programs I can place before suggesting a different route.
Do jumbo loans treat RSU income differently?
Often, and each program sets its own rule. A jumbo loan is not sold to Fannie Mae or Freddie Mac, so the calculation above does not automatically apply. The investor behind the program writes its own history, continuance and price-average requirements, and some are stricter than the agency rule while others are more flexible. I never copy an agency calculation into a jumbo file. I read the particular program's guideline, run its calculation on your statements and tell you the result before you shop. If your loan is only just over the line, the conforming limit page covers whether a high-balance conforming loan or a larger down payment avoids the jumbo rules altogether.
Can I use stock compensation when refinancing?
Yes, under the same review. A refinance is qualified on the income the lender can count today, so the question is what changed since the loan you have: a new employer, a new grant, a vesting date that passed, or a stock that moved. If you are refinancing to take cash out, the income review is the same and the loan purpose has its own eligibility check. If you would rather keep your first mortgage, a home equity line is qualified on the line program's own income rules, and I will say which fits once I have seen the vesting schedule.
What should I have ready before I ask about RSU income?
- Your most recent pay stubs showing the restricted stock income, and your W-2s for the last two years.
- The award agreements and the current vesting schedule, showing past and future vesting dates.
- Brokerage statements showing the shares or cash distributed in each of the last two years.
- Whether any award was a sign-on grant, and whether your awards are recurring.
- Whether you are buying or refinancing, which state the property is in, and whether you will live there.
- Your base pay, any bonus or commission, and your monthly debts, because the stock income is reviewed alongside them.
Send documents through the secure process I give you when we talk, not by ordinary text. A conversation does not pull your credit. Buying a home? Get pre-approved once we have talked. The pre-approval uses a soft credit check, never a hard pull for the first look. Stock-compensation income needs a separate review, and the online letter does not by itself confirm that your RSUs qualify.
The commission, bonus and overtime page explains how the rest of a variable paycheck is averaged, the job change or gap page covers buying or refinancing after a job change, and the hard-to-qualify hub lists the other income situations I can review.
Questions people ask next
Can unvested RSUs help me qualify for a mortgage?
Not as income under Fannie Mae's rule, which counts restricted stock only once it has vested and been distributed to you without restrictions. Unvested awards matter for continuance: for a one-time time-based award, the lender documents that income on the vesting schedule is expected to continue for at least three years from the application date, so the future schedule supports the vested history rather than replacing it.
What happens if I change employers before closing?
Tell me before you accept. A time-based award needs a twelve-month history from the current employer under Fannie Mae's rule, so a new employer can reset that clock even when the new package includes stock, and unvested shares at the old employer are often forfeited under the plan's terms; read your agreement. Your pay at the new job is reviewed under the job change rules, and the whole file is run again.
Can I qualify using salary and bonus income without the RSUs?
Often, yes, and it is the first thing I check. Base salary has its own rules and bonus and commission have theirs, and if those carry the payment, the stock income never has to be argued. The commission, bonus and overtime page explains how variable pay is averaged.
Will asking about this affect my credit score?
No. A text or a call does not pull your credit. An application is a separate step, and I tell you before it happens.
What clients say
Zach was so easy to work with. He made a stressful situation into a very positive experience for us and did push us one way or another. He listened to what we hoped we could accomplish and made it happen.
Word for word from Experience.com. Read all reviews.
Sources and checked dates
Sources: Fannie Mae Selling Guide, B3-3.3-07, Restricted Stock Units and Restricted Stock Employment Income (checked 2026-10-16) · Fannie Mae Selling Guide, B3-3.1-01, General Income Information (checked 2026-10-16) · Fannie Mae Selling Guide, B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds (checked 2026-10-16) · Freddie Mac Bulletin 2024-13, Selling Updates (October 2, 2024) (checked 2026-10-16) · HUD Handbook 4000.1, Update 18 (last revised August 12, 2026), II.A.4.c Income Requirements (checked 2026-10-16) · VA Lenders Handbook, VA Pamphlet 26-7, Chapter 4, Credit Underwriting (checked 2026-10-16).
Show each claim on this page, what it depends on, and the date it was checked (6)
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| Fannie Mae Selling Guide B3-3.3-07, Restricted Stock Units and Restricted Stock Employment Income (10/07/2026): restricted stock units and restricted stock "are granted by an employer to its employees as a form of compensation based on either performance or time" and "can be awarded as either stock or an equivalent cash value." Eligibility: "Restricted stock must have vested and been distributed to the borrower without restrictions." "Sign-on bonuses received in the form of restricted stock that vest over any length of time are not eligible to be used as qualifying income." Income history: "Performance-based awards: A minimum two-year history is recommended; however, income received for a shorter period, but no less than 12 months, may be considered acceptable if there are positive factors to reasonably offset the shorter income history, such as future vesting equal or greater than previous vesting and that will continue for at least 24 months; or restricted stock income received for the previous 5 years from any employer." "Time-based awards: A minimum 12-month history from the current employer is required." Continuance: for performance-based awards and recurring time-based awards "The lender is not required to verify continuance unless they have reason to believe the income may not continue"; for one-time time-based awards "The lender must document that income on the vesting schedule is expected to continue for at least three years from the application date." Qualifying income, paid in shares: "(200-day moving average of share price x total number of distributed vested shares (pre-tax) in most recent 24 months) / 24 months"; paid in cash: "The cash distributed (pre-tax) equal to the total value of vested shares in the most recent 24 months / 24 months"; "When the borrower has a history of income ranging from 12-24 months, the lender may use the actual number of months the borrower has received the income rather than 24 months." Documentation: a completed Form 1005 showing restricted stock distributions, or the most recent paystub showing restricted stock income and two years' W-2s; "evidence stock is publicly traded; current vesting schedule reflecting past and future vesting; 200-day moving average stock price (for income paid in shares); and brokerage or bank statement showing receipt of previous year(s) distribution of restricted stock and, at a minimum, the number of vested shares or cash equivalent"; and a verbal verification of employment. | Fannie Mae Selling Guide, B3-3.3-07, Restricted Stock Units and Restricted Stock Employment Income | 2026-10-16 |
| Fannie Mae Selling Guide B3-3.1-01, General Income Information (10/07/2026): "A stable and predictable flow of income is a foundational element in loan underwriting. The lender must document income is stable, has a documented history of receipt, and is reasonably expected to continue." "If the income does not have a defined expiration date and the applicable history of receipt of the income is documented (per the specific income type), the lender may conclude that the income is likely to continue and the lender is not expected to obtain additional documentation, unless there is information to the contrary. If the income source does have a defined expiration date or is dependent on the depletion of an asset account or other limited benefit, the lender must document that the income is expected to continue for at least three years from the application date." | Fannie Mae Selling Guide, B3-3.1-01, General Income Information | 2026-10-16 |
| Fannie Mae Selling Guide B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds (06/30/2015): "Vested assets in the form of stocks, government bonds, and mutual funds are acceptable sources of funds for the down payment, closing costs, and reserves provided their value can be verified. The lender must verify the borrower's ownership of the account or asset." The value of vested stock options is documented from the option count, option price and current stock price; "Non-vested stock options are not an acceptable source of funds for the down payment, closing costs, or reserves." When used for reserves, the full value of the assets as so determined may be considered, "and liquidation is not required." | Fannie Mae Selling Guide, B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds | 2026-10-16 |
| Freddie Mac Bulletin 2024-13 (Selling Updates, October 2, 2024), under "Restricted stock (RS) and restricted stock unit (RSU) income", effective for mortgages with note dates on or after April 1, 2025 with immediate implementation permitted: Freddie Mac added definitions of performance-based and time-based RS and RSU income; permitted a calculation period of less than 24 months but not less than 12 months for performance-based income when the history with the current employer is between 12 and 24 months, supported by a written analysis and compensating factors; stated that recurring RS and RSU awards must be likely to continue for at least three years and that nonrecurring awards must have at least three years' vesting and distribution remaining on the schedule; and replaced the 52-week average stock price with a 200-day simple moving average stock price, with the average dated under its standard age-of-documentation rules. Guide impacts: Sections 5301.1 and 5303.1. Bulletin 2026-A (January 28, 2026) added the Application Received Date as the start date for the three-year continuance of income with a defined duration, naming nonrecurring time-based restricted stock awards among them. | Freddie Mac Bulletin 2024-13, Selling Updates (October 2, 2024) | 2026-10-16 |
| HUD Handbook 4000.1 (Update 18, issued August 12, 2026; page footers "Last Revised: 8/12/2026"), II.A.4.c Income Requirements (TOTAL): "Effective Income refers to income that may be used to qualify a Borrower for a Mortgage"; "Effective Income must be reasonably likely to continue through at least the first three years of the Mortgage, and meet the specific requirements described below"; "Employment Income refers to income received as an employee of a business that is reported on IRS Form W-2"; and "The Mortgagee may use Employment related Income as Effective Income in accordance with the standards provided for each type of Employment related Income." The section lists primary, part-time, overtime, bonus or tip, seasonal, commission and self-employment income and eighteen other sources, including investment income ("interest and dividend income received from assets such as ... stocks") and capital gains. A full-text search of the handbook on 2026-10-16 for "restricted stock" and "RSU" found no provision on restricted stock income, and the section has no catch-all paragraph for income types it does not list. | HUD Handbook 4000.1, Update 18 (last revised August 12, 2026), II.A.4.c Income Requirements | 2026-10-16 |
| VA Lenders Handbook (VA Pamphlet 26-7), Chapter 4, Credit Underwriting, Topic 2, Income: "Income is considered effective when it is determined to be verifiable, stable and reliable, and anticipated to continue for the foreseeable future. Income analysis is not an exact science." "Only verified income can be considered in the repayment calculation." Under Other Types of Income: "While not all types of income can be listed, documentation of income must support the history of receipt and the likelihood or continuance of the income for at least 3 years from the anticipated closing date to include in effective income." Its list of other income types names pension or retirement benefits, disability income, dividends from stocks, interest, royalties, notes receivable and trusts. A search of the chapter on 2026-10-16 for "restricted stock" and "RSU" found no provision on restricted stock income, and no provision on using asset balances as income. | VA Lenders Handbook, VA Pamphlet 26-7, Chapter 4, Credit Underwriting | 2026-10-16 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last updated 2026-10-16.
Verify him: NMLS Consumer Access, ID 1652805 · 66 reviews on Experience.com.
Sources for product claims are listed on this page, with the date each was checked.
Talk it through with Zach
No credit pull happens from a conversation. Texts go to Zach's cell.