B3-3.3-08, Seasonal Income (03/04/2026)

The following table provides requirements for seasonal income.

Criteria	Requirements
Documentation	The lender must obtain a completed Request for Verification of Employment ( Form 1005); or the most recent paystub and two years' W-2s. Additionally, a verbal VOE is required. See B3-3.1-04, Verbal Verification of Employment B3-3.1-04, Verbal Verification of Employment, for specific requirements. Note: For seasonal unemployment compensation, the lender must verify that it is clearly associated with seasonal layoffs, expected to recur, and reported on the borrower's personal income tax returns. See B3-3.4-17, Unemployment Benefits Income B3-3.4-17, Unemployment Benefits Income, for more information on unemployment benefits.
Income History	A minimum two-year history is required.
Income Continuance	The lender is not required to verify continuance unless they have reason to believe the income may not continue.
Determination of Qualifying Income	The lender must calculate an average income amount using year-to-date income, when present, and previous two years' earnings.