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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://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.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. Mortgage Rates See Mortgage RatesAuthor: Keith Gumbinger
https://mymortgage.ca/resources-links/application-check-list.html
Universal Child Care Benefit (UCCB) income may be used as a source of income for borrower’s qualification purposes for insured mortgages. However, considering this income is only available until the age of six, the underwriter and originator must use good judgment when using this source of income to assess serviceability.
https://www.richardsmortgagegroup.ca/blog/bid/78040/What-kinds-of-Income-can-I-use-to-qualify-for-a-mortgage
Feb 28, 2011 · Should an investment income be considered as highly speculative, it would not normally be included. Alimony/Child Support Payments received for alimony and/or child support may be included into income where it is demonstrated over time that such payments have been fully and regularly made and are expected to continue on the same regular basis.
https://themortgageadvisors.ca/classified-income-qualifying-mortgage/
May 30, 2016 · If your disability is permanent and can provide a letter to confirm it can be used. If you are receiving a guaranteed pension, this is generally acceptable as eligible income when qualifying for a mortgage as well. Child Tax Credit. It is possible for Child Tax Credit to be used, however lenders can be hesitant about this form of income.
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.
http://www.nformanalytics.com/does-child-support-count-as-income-for-mortgage/
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. Depending on the amount and your lender’s policies, certain requirements govern how that income is to be considered.
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://www.craignickerson.com/index.php/blog/post/15/can-i-use-child-tax-credit-income-towards-qualifying-for-a-mortgage
Jan 31, 2013 · In order to use the income, the children you are receiving the credit for must be under the age of 13 (as they want to see that the income stream is likely to continue for the first 5 years of the mortgage). Proof of the children's ages via either birth certificates or the entitlement notice for the child tax credit may be required.
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