If someone has income that they do not claim on a tax return, can that income be used to qualify for a mortgage loan?
Answers | 2
Is the income required to be reported on your tax return?
You will need documentation for the income source used to qualify for a mortgage. Most ninja (no income, no job, application) and NIV (no income verification) type loans are no longer valid with the exception of some private lenders. In all cases, do what is in your best interest. Qualifying for a loan is meaningless if you are unable to afford it.
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It's not what you make, It's what you keep that determines your lifestyle.
Hope this helps