Future employment & future raises
A borrower may be able to close before starting a new job—but Fannie and Freddie impose specific guardrails.
Fannie — offer or contract
Fannie has an option allowing qualifying income from a fully executed future employment offer or contract. When no paystub is obtained before delivery, the transaction is limited to an eligible purchase of a one-unit principal residence using fixed-base income, and the start date can generally be no later than 90 days after the note date. Additional reserve or financial-resource requirements apply.
Fannie — future raise with current employer
Fannie can use a documented future increase in fixed-base pay for an eligible purchase or limited cash-out refinance when the increase takes effect no later than 60 days after the note date and the other requirements are met.
Freddie — income commencing after note date
Freddie has its own framework for new primary employment and future income increases from the current primary employer. Income must be non-fluctuating salary or qualifying hourly income and must satisfy the applicable start-date, documentation and reserve requirements in Section 5303.2.
Official guide baseline
Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide
Agency guide and AUS findings control over summaries. Lender overlays may be more restrictive.