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
Mortgage Professional in Moreno Valley, CA
December 18, 2015
Investment Manager (Financial Advisor) in North Charleston, SC
March 25, 2016
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 Most ninja (no income, no job, application) and NIV (no income verification) type loans are no longer valid with the exception of some private lenders.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.
Feel free to send me a message to discuss further.
It's not what you make, It's what you keep that determines your lifestyle.
Hope this helps
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