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Is social security disability and child support income still grossed up 125%?

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Icon Mini Profile laureladelman





Joined: 30 Jul 2010

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1.29 Dollars($)
Post Posted: Fri Jul 30, 2010 6:16 pm    Post subject: Is social security disability and child support income still
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I am looking to refinance, but I will not qualify unless my income is grossed up (social security disability and child support) since it is not taxable. This used to be common practice in mortgage underwriting. Is this still the case? Thank you.
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



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Location: ALASKA
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Post Posted: Fri Jul 30, 2010 10:24 pm    Post subject:
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Welcome laureladelman,

As far as I know, child support and social security income are considered as a part of your income. The lender will take into account both of them while approving you for a loan.

_________________
Procrastination is the enemy of your financial success
laurel

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Post Posted: Sat Jul 31, 2010 2:26 am    Post subject: Non taxable income grossed up?
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But is this income grossed up 1.20%? since it is not taxable?
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