Mortgage with RSU Income 2026: How Lenders Count Your Restricted Stock Units
You earn $120,000 in RSUs per year — but your lender says it doesn't count toward qualifying. Most lenders won't use RSU income by default. But Fannie Mae allows it if you have 2+ years of vesting history at a publicly traded company. Here's exactly how to find lenders who get it right and use your full RSU income to qualify.
💼 Not All Lenders Know How to Handle RSU Income
Many loan officers have never processed an RSU income file. You need a lender experienced with tech employee compensation — one who knows how to structure the income calculation correctly from day one.
Do RSUs Count as Income for a Mortgage?
The short answer: yes, but only with 2+ years of documented vest history at a publicly traded employer. The problem is that lenders vary wildly in how they handle RSU income:
Lender Type A
Ignores RSUs completely
~40% of lenders
Lender Type B
Counts RSUs per Fannie Mae (2yr avg)
~45% of lenders
Lender Type C
Flexible — counts with <2yr history
~15% (non-QM)
If your loan officer tells you RSU income “doesn't count,” shop other lenders — you may qualify for a significantly larger loan with a lender who properly counts your vested RSU income.
Fannie Mae RSU Income Rules 2026
Under Fannie Mae's guidelines (B3-3.1-09), RSU income qualifies if ALL of these are met:
✓ 2-Year History Required
You must have received RSU vesting income for at least 24 months, documented on 2 consecutive W-2s. The W-2 must show this in Box 12 (Code V — Stock Options/RSUs) or included in Box 1 taxable wages.
✓ Publicly Traded Employer
The company granting the RSUs must be listed on a major stock exchange (NYSE, NASDAQ, etc.). Private company RSUs do not qualify under Fannie Mae standard guidelines — you need a non-QM lender for that.
✓ 3+ Year Continuation
The vesting schedule must show continued RSU grants for at least 3 more years. Your HR or equity compensation team provides a vesting schedule document. If RSU grants end soon, the lender may exclude the income.
✓ Declining Income Rule
If your RSU income in Year 2 (most recent) is less than Year 1 (prior), Fannie Mae requires using only Year 2's amount — not the average. Volatile stock can reduce your qualifying income.
✓ Must Be on W-2 (Not 1099)
RSUs vested at a W-2 employer are reported on the W-2. This is different from stock options sold at gain (which may be on a 1099-B). Make sure your W-2 reflects the RSU income correctly before applying.
How Lenders Calculate RSU Income
Example: Google Employee, Applying in 2026
⚠️ Declining income rule: if 2025 were $70K instead of $130K, only $70K/year ($5,833/month) would be counted — reducing total qualifying income to $15,833/month.
Documents You Need for RSU Income
📄 2 Years of W-2s
Must show RSU income in Box 12 Code V or included in Box 1 wages
📄 2 Years of Tax Returns (1040)
Pages 1-2 + all schedules, showing consistent employment and income
📄 Most Recent 30-Day Pay Stubs
Shows YTD income including any recent RSU vests
📄 RSU Vesting Schedule
From your equity/compensation portal (Schwab Equity Award Center, Fidelity NetBenefits, Carta, etc.) — must show 3+ years of future grants
📄 Employer Verification Letter
Signed letter confirming continued employment and RSU grant program participation
📄 Brokerage Statement
Some lenders require the last 2 months of statements showing RSU vesting activity
Before applying, calculate how much house you can afford with and without your RSU income counted — the difference in buying power changes your entire search range. Also, if your credit score is below 720, boost it before applying — a 40-point improvement on a $1.2M loan saves $400+/month.
⚠️ New Job + RSUs: The 2-Year Clock Problem
If you just joined a new company with a $300K RSU grant, you typically cannot count any of it for 24 months. The clock starts when RSUs first appear on your W-2. If you need to buy before the 2-year mark, non-QM lenders and some Freddie Mac-approved lenders may count RSUs with strong compensating factors (720+ credit, 20%+ down). For private company RSUs, a bank statement loan may also be an option — lenders count gross deposits rather than W-2 income.
Freddie Mac vs. Fannie Mae RSU Rules
| Rule | Fannie Mae (DU) | Freddie Mac (LPA) |
|---|---|---|
| Min RSU history | 24 months | 12–24 months (with comp. factors) |
| Publicly traded required | Yes | Yes |
| Declining income | Use lower year only | Use lower year only |
| Future grants required | 3+ years documented | 3+ years documented |
| New employer flexibility | Limited | More flexible with strong profile |
| Private company RSUs | Not allowed | Not allowed (standard) |
Ask your lender whether they sell to Fannie Mae (DU) or Freddie Mac (LPA) — and request that they run your file through both AUS engines to see which gives you the better result.
Non-QM Options When Conventional Won't Count Your RSUs
If you have less than 2 years of RSU history or work at a private company, non-QM lenders have more flexibility:
Asset Depletion Loans
If you have vested RSUs sitting in a brokerage account, some lenders convert your total assets into an "income stream" (total assets ÷ 360 months). $1.5M in vested stock = $4,166/month in qualifying income — with zero regard for vesting schedules.
Bank Statement Loans (12 or 24 months)
For tech workers who exercise RSUs and receive proceeds in their bank account — a bank statement lender counts the average monthly deposits. No W-2 RSU analysis required.
Jumbo Portfolio Loans
Many jumbo lenders ($1M+) have their own RSU guidelines that are more flexible than Fannie Mae conforming. Specifically designed for high-income tech employees with variable compensation.
Match with a Lender Who Knows RSU Income
The wrong lender can cost you the home by miscounting your income. The right lender knows exactly how to document RSU income for Fannie Mae, Freddie Mac, or their own jumbo portfolio. Get matched in minutes — free.
Related Guides
Mortgage with Bonus Income 2026
Annual and quarterly bonuses — same 2yr rule. Do signing bonuses count? Full breakdown.
Bank Statement Mortgage 2026
If traditional income docs don't work, bank statement lenders count deposits directly
Jumbo Mortgage Rates 2026
RSU earners often need jumbo loans — $766K+ in most markets
Mortgage Pre-Approval 2026
How to get the strongest pre-approval letter with complex income documentation
Bottom Line
Ready to see your rate with full RSU income counted? Get personalized rate quotes from lenders who specialize in tech employee compensation. RSU income is 100% countable for mortgage qualification — but you need 2 years of W-2 history, a publicly traded employer, and a lender who knows the Fannie Mae guidelines. If your current loan officer says RSUs don't count, shop lenders. The difference between counting and not counting your RSU income can be $200K–$500K in buying power. Don't settle for a loan officer who doesn't understand tech compensation.