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concerned over child support as income and underwriting

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concerned over child support as income and underwriting

Hi Everyone!

 

I have been on this roller coaster ride for a while and I see the end. The problem is the child support I receive as income is a possible issue. The LO is using for loan amount qualification. I have been on everything they ask in the past and this one concerns me. See the problem is they wanted to see 3 months consecutive payments. Well this needs to be most recent. My ex pays monthly and pays more than required for the order. His job sent in July on Aug 5th. This caused it not to be seen in July. If you take the amount he has paid throughout previous months it shows he is actually paid ahead. Does anyone know how this will affect me with a FHA loan. I have a closing date of 8/30 and my  lease expires 8/31. I am trying not to freak out and just wait till I hear back from the underwriting manager. I have the 3.5 percent down and the 4K in reserves they have requested. The original loan approval was for 240K. My actual loan amount is 220K. It is strictly just me purchasing this home and I am a first time home buyer who has rented last 10 years. Thank you in advance for any thoughts.

4 REPLIES 4
Valued Contributor

Re: concerned over child support as income and underwriting

Does your Ex’s employee send the $ directly to you or does it go thru the State Child support division ? You should be able to provide one or two years proof that you regularly get support.

How long have you been receiving CS?
Message 2 of 5
Established Member

Re: concerned over child support as income and underwriting

It goes through the state and then sent to me. I have been getting since 2010. I have 4 more years to get support. My ex and I do not have contact so I am just going to cross fingers and say prayers.

Message 3 of 5
Valued Contributor

Re: concerned over child support as income and underwriting

The state system can send you a printout. If there is an online system you can log in and print it off yourself. Do it now! Give it to UW.
Message 4 of 5
Established Contributor

Re: concerned over child support as income and underwriting

You'll be fine! Don't worry.

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Message 5 of 5
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