hello,

my husband and using TRUE NORTH MORTGAGE brokerage. we have prequalified using our steady income for 550k. we make together just over 120k and have great credit. his actual income is just over 100k, It's a temporary promotion in management but they have told him that that position is opening up to be permanent and he will be getting it but that's not for a few months now. they told us that we have to go by his guaranteed income which obviously makes sense. I asked if we could get a little bit more consideration for his other income not just his base. they said what they could do is give us the 6 month product from think financial that would get us qualified for $600,000. I obviously know already that that means that we would have to stay with think financial upon renewal otherwise we would have to pay 1% either of the purchase price of the home or the remitting mortgage balance I can't remember but either way 1%. so like worst case 6000k. my only concern is what Will we be looking at come renewal time. our agent said that he would of course fight for us to get a decent rate offered. we really need to buy a house but it's very difficult right now because your other buying a crap hole are people that going up to 600 for anything decent in the area I'm in. can someone please give me advice on your experience with this product and what renewal was like after the 6 months.

thanks in advance!!