Income tax Returns counted as income for mortgage?

[bruiseviolet]

Because we are "low income" and have dependents/daycare expenses etc...  we always get a significant amount of taxes back every year.  Will they include this in income when we are going through the pre-qualification process?  Or should we have taken out more deductions 2 years ago? lol

[bruiseviolet]

I really should stop posting when I'm half asleep.  Don't they go by gross income anyways?  That would obviously include the tax refund....    sorry for being a pest tonight. lol

[mauve]

They do base it on gross income.

BTW, you're in MI, right?  Have you looked into the MSHDA first time homebuyers programs?  I qualified for up to 50k in assistance as a low income individual.  I squeaked by on the technicality that that determination is made based on your AGI, not your real gross, so I was able to qualify by bumping up my 401k contribution. 

http://www.michigan.gov/mshda

There's some hoops to jump through, but if you qualify, it can be really helpful.