Answers (3)
- Deborah Garvin, "DeborahGarvin"
- Contributions:449
As both John and Celia commented, disability will work fine it you can evidence it will be ongoing. The rub is in getting the source of disability to put it to writing that the payments will be ongoing. Usually, this documentation is the most difficult as the "source" (social security or private) is reluctant to put any guarantees in writing). It can, and has been done; however, I have seen some pretty frustrating situations for borrowers. Bear in mind, that you will have to get the documentation from the source...so I would start inquiring with them immediately.
- John Montgomery, "JBMONTY"
- Contributions:98
Yes, like Celia said you would have to show consistant monthly deposits of that income. Also needed would be proof that it will continue for at least 3 more years
- Celia Butler Home Loan Diva, "At Academy Mortgage"
- Contributions:368
YOU BET ... just so it is consistent and you can show it going into your bank account on a monthly basis. Must be long term OR if it is short term you have to have the documentation of how long it will continue...
Sincerely,
Celia
Sincerely,
Celia
I am on disability and also have disability insurance that makes up my income. Will this qualify ?
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