01-24-2013 07:50 AM
When qualifying for a mortgage, do many banks count child support towards qualifying income? The bank I'm working with doesn't. Is this common? I've been receiving a paltry sum for about 7 years but I would still like to count it so it qualifies me for a slightly larger house.
01-24-2013 08:23 AM
Get a new bank then. As long as you can show the child support you're receiving is court ordered, and not just based on an oral agreement, it should be included. Unless you don't want it to be.
01-24-2013 09:53 PM
02-01-2013 07:32 AM
try another lender.
if it is court ordered and you can prove that you are actually getting it.... it can be counted
02-02-2013 01:25 PM - edited 02-02-2013 01:26 PM
Most lenders will use child support as income if it is reliable ( you have recieved it consistently for 12 mos) AND it is likely to continue for the next 2 years.
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