Google Employees: Buying a Home on Bellevue's Eastside With Equity Comp

Google's Eastside Footprint Is Growing — And So Are the Mortgage Questions

Google's Kirkland and Bellevue offices have expanded steadily, adding thousands of L4–L7 engineers, product managers, and data scientists to the Eastside workforce. Many of these employees are now looking to buy — and running straight into a wall with traditional lenders who don't know how to handle Google's Total Compensation structure.

The core problem: your base salary might be $180,000, but your total comp is $320,000 once you factor in GSUs and your annual performance bonus. A lender who only underwrites your base is leaving nearly half your income on the table — and potentially telling you that you can't afford a home you absolutely can.

This post walks through exactly how lenders should treat Google equity compensation, what documentation you'll need, and why the Bellevue and Redmond market requires a lender who understands tech comp from the ground up. For the full framework, visit my tech employee home loans page.

How Google's GSUs Differ From Amazon RSUs (It Matters for Underwriting)

Amazon employees vest on an aggressive back-weighted schedule. Google (Alphabet) typically vests GSUs quarterly over four years, with a one-year cliff. That sounds similar, but the underwriting nuances are real:

• Continuity requirement: Most lenders want to see at least 24 months of GSU vesting history on your tax returns (W-2, Box 12, Code V) before they'll count it as qualifying income.
• New grant timing: If you received a large refresh grant in the last 12 months, lenders may average only the portion supported by your historical vesting — not your projected future grants.
• Layoff sensitivity: Post-2023, some lenders added overlays for big tech employment. A lender who works routinely with Google, Microsoft, and Amazon employees knows how to navigate this without penalizing you unnecessarily.

The calculation lenders typically use: average your last 24 months of GSU income (from W-2s or paystubs showing year-to-date vesting), then add that monthly average to your base salary for a total qualifying income figure. On a $1.4M Bellevue purchase, that difference can easily be $200,000 in purchasing power.

What the Eastside Market Looks Like Right Now

Bellevue, Redmond, and Kirkland remain among the most expensive sub-markets in Washington State. As of mid-2026:

• Median single-family home price in Bellevue: approximately $1.35M
• Median in Redmond (including areas near Google's campus): approximately $1.1M
• Kirkland's Moss Bay and Juanita neighborhoods: $950K–$1.3M depending on lot and vintage

These price points push the vast majority of Google employee purchases into jumbo loan territory — meaning conventional conforming loan limits don't apply, and the lender is taking the loan onto their own books or selling it to a jumbo investor. Jumbo investors often have stricter income documentation requirements, which makes it even more important to work with someone who understands how to document GSU income correctly from the start.

Bonus Income: Performance Awards and Annual Bonuses

Google's annual performance bonuses can be substantial — often 15–30% of base salary at senior levels. Here's how lenders handle them:

1. Two-year average rule: Like GSUs, bonus income is averaged over 24 months. If you received a $60,000 bonus last year and a $45,000 bonus the year before, lenders typically credit you $4,375/month in bonus income.
2. Likelihood of continuance: The lender (and the investor buying the loan) must determine that the bonus income is likely to continue. Tenure at Google, your job level, and a written Verification of Employment (VOE) from your employer all support this.
3. New employees: If you've been at Google less than two years — whether a direct hire or a transfer from another big tech company — some lenders will count prior employment at a similar role. This is where lender experience with tech compensation genuinely matters.

Stock Options vs. GSUs: A Quick Distinction

Google moved away from stock options toward GSUs years ago, but some employees — particularly those who joined early or through acquisitions — may still hold unvested options or have exercised options generating capital gains. If that describes you, the mortgage treatment is different:

• Exercised options appear as capital gains on Schedule D of your tax return — not as W-2 income.
• Lenders generally do not count capital gains from option exercises as qualifying income unless there is a clear, documented history of recurring gains over two or more years.
• Unexercised options have no value for qualifying purposes.

If options are part of your story, connect with me directly before assuming they'll help your qualification — the answer depends heavily on your specific history. You can review the broader topic on my post about using stock options to buy a home in Seattle.

Debt-to-Income Ratios on Jumbo Loans in the Eastside Market

For a $1.35M Bellevue home with 20% down ($270,000), you're financing $1.08M. At a 30-year jumbo rate, that's a principal-and-interest payment in the range of $6,500–$7,200/month depending on rate. Add property taxes (Bellevue's effective rate runs roughly 0.85–0.95% of assessed value), homeowners insurance, and any HOA dues, and your total housing payment could easily exceed $8,500/month.

To keep your debt-to-income ratio under 43% — the typical jumbo ceiling — you'd need qualifying income of approximately $20,000/month, or about $240,000 annually. A Google L5 engineer with base salary plus GSU income often clears that threshold comfortably when documented correctly. An L4 earlier in their vesting schedule may need a larger down payment or a co-borrower to make the numbers work.

Understanding what makes a strong DTI ratio for your specific loan type is worth reviewing before you start shopping.

Documentation Checklist for Google Employees Applying for a Mortgage

Start pulling these together before you even begin touring homes:

• Last two years of federal tax returns (1040s, all schedules)
• Last two years of W-2s (pay close attention to Box 12, Code V for GSU income)
• Most recent 30 days of paystubs showing YTD GSU vesting and base salary
• Most recent two months of brokerage statements showing vested shares or cash proceeds
• Offer letter or most recent total compensation statement from Google
• Any grant agreements documenting future vesting schedule (helps lenders project continuance)

Being organized here doesn't just speed up your pre-approval — it signals to jumbo investors that your file is clean, which can translate to better pricing.

Why Working With a Local WA Lender Matters for Google Employees

National online lenders process volume. A local Washington loan officer who works consistently with Amazon, Microsoft, Meta, and Google employees has underwritten these file types dozens of times. I know which jumbo investors are most flexible with GSU income averaging, which ones require additional overlays for tech employment, and how to structure your file so it clears underwriting the first time rather than bouncing back with conditions.

I've worked with tech employees across the Eastside — from first-time buyers in Redmond to move-up buyers purchasing in Bellevue's West of Market neighborhood. The details of your comp package matter, and so does the lender you choose.

If you're a Google employee on the Eastside thinking about buying in the next 3–12 months, the best first step is a 20-minute conversation to map out your qualifying income correctly. Reach out through my tech employee home loans page to schedule a consultation — no obligation, no pressure, just a clear picture of where you stand and what you can comfortably buy.