I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Bay Area engineers are some of my most frequent clients — the RSU, bonus, and job-change complexity is exactly what I navigate every week. Call (800) 239-1103.
Bay Area engineers face a unique mortgage challenge: income includes RSU vesting, signing bonuses, 1099 side work, and sometimes job changes between companies. Here’s how lenders handle each piece.
RSU (Restricted Stock Units) Income
RSUs are taxable compensation — they appear on your W-2 when they vest. Most conventional lenders will count RSU income if: you have a 2-year history of RSU vesting; RSUs are expected to continue (verified via offer letter or stock grant agreement); and the company is publicly traded. Bay Area engineers at large tech companies can receive substantial annual RSU income. If your RSUs are from a large publicly-traded company, lenders are very comfortable using this income to qualify.
Signing Bonuses
One-time signing bonuses generally cannot be used as qualifying income — they’re non-recurring. If you’ve received signing bonuses at multiple jobs over 2 years and they appear on W-2s, some lenders will average them, but this is lender-specific and requires documentation that bonuses are a regular part of your compensation structure.
Recent Job Changes in Tech
Tech workers change jobs frequently. Lenders look for 2-year work history in the same field (tech/engineering counts) — not necessarily the same employer. A gap of up to 30 days between employers in the same field is acceptable. Changing from engineer to manager with a pay increase is fine. Going from W-2 to 1099 requires 2 years of self-employment history before that income can be fully used for qualification.
Total Comp vs. Taxable Income
A Bay Area engineer with high total comp may show lower taxable income after pre-tax 401k contributions and benefits. The key is that gross W-2 income is what qualifies — not the net after deductions. Work with a mortgage broker who understands tech comp structures and knows how to document RSU income, bonus history, and offer letter terms correctly for underwriting.
High-Cost Bay Area Loan Options
Engineers buying in Santa Clara, San Mateo, Marin, or San Francisco counties typically need jumbo loans. Requirements generally include 720–740+ credit, 20%+ down payment, 12+ months reserves, and clean employment documentation including an offer letter showing continued RSU grants. I work with jumbo lenders who specialize in tech income documentation and Bay Area high-cost markets.
Frequently Asked Questions — Engineer Mortgage Bay Area
How do lenders count RSU income for a Bay Area mortgage?
Lenders count RSU income if you have a 2-year history of vesting (shown on W-2s), the RSUs are expected to continue (verified via offer letter or current stock grant agreement), and the company is publicly traded. The lender will average the last 2 years of RSU W-2 income to calculate a monthly qualifying figure. If you recently joined a new company and haven’t yet vested, that RSU income typically cannot be used until you have at least a partial-year vesting history. For engineers at major Bay Area tech companies with stable grant histories, RSU income is generally straightforward to document and count.
Can I get a mortgage if I recently changed tech jobs in the Bay Area?
Yes — as long as you stayed in the same field (engineering, software development, tech). Lenders require a 2-year work history in the same industry, not at the same employer. A short gap of up to 30 days between jobs in the same field is acceptable. Moving from one tech company to another, or from engineer to senior engineer to engineering manager, is all within the same career trajectory and lenders treat it as continuous employment. The key documentation is your start date at the new employer and your offer letter — ideally showing your base salary and any RSU or bonus structure.
What loan options are available for Bay Area engineers buying high-cost homes?
Engineers buying in Santa Clara, San Mateo, San Francisco, or Marin counties typically need jumbo loans, since home prices frequently exceed the conforming limit. Jumbo loan requirements typically include 720–740+ credit score, 20%+ down payment, 12+ months of reserves (liquid assets after closing), and complete documentation of all income sources including RSUs, bonuses, and any 1099 side income. Some jumbo programs accept 10–15% down with strong credit and reserves. I work with jumbo-specific lenders who understand how to underwrite complex Bay Area tech income — the lender selection matters as much as the loan terms.
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
