Freddie Mac Single-Family Seller/Servicer Guide Section 5303.2 — Income commencing after the Note Date

Freddie Mac Single-Family Seller/Servicer Guide Section 5303.2 — Income commencing after the Note Date

5303.2: Income commencing after the Note Date (05/06/26) For Borrowers starting new employment or receiving a future salary increase from their current employer, income commencing after the Note Date may be considered a stable source of qualifying income if either all requirements for option one, or all requirements for option two in the following table are met. Income commencing after the Note Date Topic Option one Option two Eligible employment Employment and income must meet the Employment and income must meet the following requirements: Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-42 Income commencing after the Note Date Topic Option one Option two and income following requirements: ■ Income must be from new primary employment or a future income increase with the current primary employer ■ Income must be non-fluctuating and salaried or hourly (e.g., fluctuating hourly earnings are not permitted) ■ Hourly earnings from a new employer may only be used to qualify when there is a guaranteed minimum number of weekly hours ■ Hourly earnings from the current employer with a future increase in the pay rate may only be used to qualify when documentation in the Mortgage file demonstrates that current and future hours do not fluctuate ■ The employer must not be a family member or an interested party to the real estate or Mortgage transaction ■ Income must be from new primary employment ■ Income must be non-fluctuating and salaried or hourly (e.g., fluctuating hourly earnings are not permitted) ■ Hourly earnings from a new employer may only be used to qualify when there is a guaranteed minimum number of weekly hours ■ Hourly earnings from the current employer with a future increase in the pay rate may only be used to qualify when documentation in the Mortgage file demonstrates that current and future hours do not fluctuate ■ The employer must not be a family member or an interested party to the real estate or Mortgage transaction ■ As of the Delivery Date, the income must be no less than that used to qualify the Borrower for the Mortgage Start date of the new employment or future salary ■ Must be no later than 90 days after the Note Date ■ May be before or after the Delivery Date ■ No limit on the number of days after the Note Date ■ Must be before the Delivery Date Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-43 Income commencing after the Note Date Topic Option one Option two increase, as applicable Eligible Mortgage purpose ■ Purchase transaction ■ “No cash-out” refinance ■ Purchase transaction ■ “No cash-out” refinance ■ Cash-out refinance Eligible Mortgaged Premises 1-unit Primary Residence ■ 1- to 4-unit Primary Residence ■ Second home ■ 1- to 4-unit Investment Property Verification of additional funds ■ In addition to funds required to be paid by the Borrower and Borrower reserves, the Seller must verify additional funds in the Borrower’s depository and/or securities account(s) that equal no less than the sum of the monthly housing expense, as described in Section 5401.1, and other monthly liabilities, as described in Section 5401.2, multiplied by the number of months between the Note Date and the start date of the new employment/future salary increase, plus one additional month. A partial month is counted as one month for the purpose of this None Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-44 Income commencing after the Note Date Topic Option one Option two calculation. ■ The amount of the required additional funds, as described above, may be reduced by the amount of verified gross income that any Borrower on the Mortgage is expected to receive between the Note Date and the start date of the new employment, whether or not this income is used to qualify for the Mortgage or is expected to continue after the start date of the new employment/future salary increase. Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-45 Income commencing after the Note Date Topic Option one Option two Sellers may use the following worksheet to assist with the additional funds calculation: Calculation for verification of additional funds worksheet 1 Total monthly housing expense (Section 5401.1) $ _______ 2 Monthly debt payment (Section 5401.2) $ _______ 3 Line 1 + Line 2 $ _______ 4 Number of months between Note Date and start date of new employment/future salary increase (a partial month = 1 month) + 1 month _______ 5 (Line 3) x (Line 4) $ _______ 6 Borrower’s verified gross income expected between Note Date and start date of new employment $ _______ 7 Line 5 – Line 6 $ _______ (This is the amount of additional funds the Seller must verify) Required documentation ■ Copy of the employment offer letter, employment contract or other evidence of the future income increase from the current employer that meets all of the ■ Copy of the employment offer letter or employment contract that meets all of the following requirements: ❑ Fully executed and accepted by the Borrower Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-46 Income commencing after the Note Date Topic Option one Option two following requirements: ❑ Fully executed and accepted by the Borrower ❑ Non-contingent or provide documentation, such as a letter or e-mails from the employer verifying all contingencies1 have been cleared ❑ Includes the terms of employment, including employment start date, guaranteed minimum number of weekly hours, if applicable, and annual income based on non- fluctuating earnings. Note: Hourly earnings from a new employer may only be used to qualify when there is a guaranteed minimum number of weekly hours. ■ For a future income increase with the Borrower’s current employer, the above documentation must indicate the increase is fully approved and is explicitly granted to the Borrower ■ 10-day pre-closing verification (PCV) verifying the terms of the employment offer letter, contract or future income increase have not changed (refer to ❑ Includes the terms of employment, including, but not limited to, employment start date and annual income based on non- fluctuating earnings. Note: Hourly earnings from a new employer may only be used to qualify when there is a guaranteed minimum number of weekly hours. ■ 10-day PCV verifying the terms of the employment offer letter, contract or future income increase have not changed (refer to Section 5302.2(d)) ■ Paystub, written verification of employment (VOE) or a third- party employment verification supporting the income used for qualifying the Borrower Freddie Mac Single-Family Seller/Servicer Guide Chapter 5303 As of 05/06/26 Page 5303-47 Income commencing after the Note Date Topic Option one Option two Section 5302.2(d)) ■ Documentation of additional funds, as required above 1 A probationary period of time after employment starts (e.g., 90-day probationary, training or orientation period) is not considered a contingency.

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