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can my loan be denied based in income that I may loose in two or three years

by jlane111759 from , Texas. Jul 28th 2014 Reply


Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

Yes! I assume this is based on the collection of Child Support or Alimony as most lenders require that there be a continuance of income for 3 years from the date your loan would close in order to use the income in your loan application.

Jul 28th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Yes, lenders are required to confirm that income counted to help you qualify will continue for 3 years after closing.

Jul 29th 2014
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Edward Fallon (edfallon)
#89 ranked lender in Pennsylvania - 143 contributions

Most lenders want to see any non-employment income source continue for at least 3 years. If it won't, you can use it as a compensating factor. Are there any other income sources you could use, or is there anyone that can co-sign with you?

Jul 29th 2014
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

Yes, lenders will look to see that income will continue for at least three more years to ensure that you will be able to pay off the loan.

Jul 29th 2014
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Jericho Cherry (Jerichocherry)
#54 ranked lender in Virginia - 1,107 contributions

The answer is as everyone has stated, YES.

Jul 29th 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Yes... Generally speaking, lenders look to see if the income will likely continue for at least the next three years. So common issues are things like child support or alimony that will be ending in the near future NOT being able to be used as qualifying income.www.Minneapolis-Mortgage.net

Jul 29th 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

Yes they can if you are speaking about child support or alimony.

Jul 29th 2014
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I am disabled. I receive a check for myself. I also receive a check for my son his check will end when he turns 19 or graduates from high school which ever comes first. He is now 17 and also would like to know if he is eligible to be a cosigner. In January he will be 18 years only and works for CPS (electric)

Jul 29th 2014
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