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Additional income

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Laura1369
Regular Contributor

Additional income

Okay this may be a rather stupid question, but I'm going to ask anyway. First the info.. Then the question.

Preapproval went through manual because of bankruptcy not being at 24 months yet. Officially 24 months as of 18JUN! Preapproval came back for 160,000. Found house and sending contract in tonight!!! Closin on or before 21AUG. 100% disabled vet so I'm using my VA home loan. Only income source is my VA disability.

Now the question.... I have my social security hearing on 16JUL. If by some miracle my SS is granted and Actually awarded prior to closing, can that give me problems? I don't see why it would because it would simply just improve my DTI. However, I know this stuff is weird!
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topa
Regular Contributor

Re: Additional income

Congrats on the pre-approval.

 

SS should improve your situation since it'll be additional income. Your buying potential should increase with the additional income.


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ShanetheMortgageMan
Super Contributor

Re: Additional income

Yup, SSRI (social security retirement income) will just help your situation.  I wouldn't worry.

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