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Can income from an employer paid accountable mileage reimbursement plans be

Counted as income for an FHA loan? (2) how does an FHA rehab loan work & do you apply for it when you apply for the FHA loan?
  • September 27 2012 - US
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Answers (2)

You cannot count mileage reimbursement as income as Paschal explained.
  • September 27 2012
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Hi,

No, you can't use mileage or expense reimbursements to qualify for an FHA loan (or any loan for that matter).

If you are speaking about a 203k loan (FHA rehab), you would contact a lender who specializes in FHA loans (such as myself) to pre-approve you for the loan prior to shopping for a home.  My contact info is in my profile if you need assistance.

Thanks!!
  • September 27 2012
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