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https://sincemydivorce.com/does-child-support-count-when-applying-for-mortgage/
Mar 01, 2011 · If child support or alimony is your sole source of income it may be nearly impossible to qualify for a loan, but lets take a look at the facts…. As with all other documentation for mortgage applications, child support verification is no different; you have to be able to prove it exists and is received on a regular basis.
https://www.homesteadfinancial.com/purchase/child-support-qualify-mortgage/
Apr 29, 2013 · It is possible to include child support as income toward qualifying for a mortgage application. It does take some planning and documentation.
https://www.hsh.com/finance/mortgage/how-does-child-support-affect-mortgage-qualification.html
Jul 24, 2014 · Child support affects mortgage qualification by counting as debt for one who is paying it, and as income for those who receive it.
https://www.whichmortgage.ca/mortgage-guide/what-counts-as-income-for-your-mortgage/223254
If you are paying child support and/or alimony, however, this amount will generally be deducted from your income and not count toward your income to qualify for a mortgage. In both instances, the lender may require the legal separation agreement in addition to proof of payments.
https://www.answers.com/Q/Can_mortgage_payments_count_as_child_support
In most states, yes, child support can be taken from all forms of income except for needs-based income (such as food stamps or housing assistance).
https://www.blownmortgage.com/alternate-income-using-child-support-qualify-mortgage/
Mar 22, 2015 · Since child support is non-taxable income, it is grossed up for mortgage qualification purposes. This means that the lender will take 125 percent of the amount that you receive as the number used for qualification purposes.
https://www.fha.com/fha_article?id=141
A divorce decree, formal separation or court order is sufficient in most cases. When you apply for an FHA mortgage and list alimony or child support payments as legitimate income, your loan officer will examine the ratio of your other income versus the amount of child support or alimony you receive.
https://www.veteransunited.com/valoans/child-support-payments-can-help-or-hurt-your-va-home-loan-chances/
Lenders can count child support payments as effective income toward a mortgage, and that can help get veterans into the price range they want. But spouses who are paying that monthly support will have that money counted as an outgoing liability by mortgage lenders.
https://gustancho.com/fha-loans-with-child-support-payments
Oct 11, 2018 · Child support payments can be a large percentage of borrower’s monthly gross income. Most mortgage lenders have overlays on debt to income ratio. The maximum allowed by HUD 4001. FHA Handbook on debt to income ratio is 46.9% front end DTI and 56.9% back end DTI when qualifying for a mortgage loan.
https://homeguides.sfgate.com/use-alimony-qualify-mortgage-2252.html
Lenders have the ability to count alimony payments as income, which improves your ability to get a mortgage. The guidelines on how alimony may be used to qualify for a mortgage vary by lender and loan program. Mortgage lenders usually require extensive documentation to verify that...
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