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how to gross up ss income in FHA loan?

for example, if person's net SS income is 1000, gross ss income include the midecial permium is 1188, what is max income can be use for apply a FHA loan?

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi zaidiyu!

Welcome to forums!

In my opinion, the medical premium will not be considered as an income. I think the SS income of $1000 will only be considered.

Sussane

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:25 | Post subject:

jveenstra's picture
jveenstra | Joined: November 10, 2008 09:03 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The income that can be used is probabaly $1,000 and if you do not pay taxes on that it can probabaly be grossed up at 125% so the useable income for qualifying is probabaly $1,250

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:25 | Post subject:

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