Origination ActivitiesQuestion 267 of 400
A borrower's application shows income from child support they wish to use to qualify. How may this income be treated?
a.It may count if documented, likely to continue for a defined period (often at least three years), and received consistently
b.It can never be used to qualify
c.It counts double because it is tax-free
d.It only counts as an asset
Explanation
Child support, alimony, or maintenance may be used as qualifying income if it is documented, has been received consistently, and is likely to continue for at least a defined period (commonly three years). A borrower is not required to disclose it, but if used, it must be supported.
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