Generally a VOE would be acceptable & we would average income. We would also need to see that brrw is currently receiving unemployment.

vi. Seasonal Employment (TOTAL)

(A) Definition Seasonal Employment refers to employment that is not year round, regardless of the number of hours per week the Borrower works on the job.

(B) Standard The Mortgagee may consider Employment Income from Seasonal Employment as Effective Income if the Borrower has worked the same line of work for the past two years and is reasonably likely to be rehired for the next season. The Mortgagee may consider unemployment income as Effective Income for those with Effective Income from Seasonal Employment.

(C) Required Documentation For seasonal employees with unemployment income, the Mortgagee must document the unemployment income for two full years and there must be reasonable assurance that this income will continue.

(D) Calculation of Effective Income For employees with Employment Income from Seasonal Employment, the Mortgagee must average the income earned over the previous two full years to calculate Effective Income.

Original Question:
I have a gentlemen that works for a contractor for the state road system. He has been there 15 years. They are off 2-4 months during the winter on un-employment. He goes back to work in March. Income is stable and I have used last 2 year average. Does he have to wait until first paystub to close? We can go FHA or conventional but prefer FHA.