Zillow Advice: Approval Process - Do mileage reimbursements and medical allowances count toward getting a home loan? http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ Zillow Advice | Zillow Real Estate @user0514840:You chose to ... http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ @user0514840:<br/><br/>You chose to ask in a free advice section.&nbsp; Someone puts in a lot of work going through numbers and sharing ideas.&nbsp; You chose to get offended.<br/><br/>Think again. <br/><br/>You probably would have been equally offended if someone just wrote "no, mileage reimbursements and medical allowance are not part of income".&nbsp;&nbsp;&nbsp; Go pay someone for advice. <br/><br/>Talk about rude!!!<br/> Sun, 15 Sep 2013 15:49:00 GMT http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ 2013-09-15T15:49:00Z Thanks for the replies! @SteadyState ... http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ Thanks for the replies! @SteadyState -- I appreciate your concerns, you're right we're not ready to buy a home -- and me asking some *simple* questions in an 'advice' column is my way of educating myself. Technically my husband's mileage reimbursements are MUCH more than what he actually puts toward gas/travel, since he is payed per mile he drives. Not to mention the fact that where we live, paying rent is twice as much as a reasonable mortgage. Your condescending response is not helpful, it's rude. You have NO idea what my husband's salary is or what other income we have, I was simply asking what counts as income so that I will have that knowledge when (in the next 2 years) we are actually in a position to buy a home. Sun, 15 Sep 2013 15:30:00 GMT http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ 2013-09-15T15:30:00Z Let's think this through.Reimbursements ... http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ Let's think this through.<br/>Reimbursements are for actual expenses incurred by the employee to perform their work activities. If you make $5000 per month and had $1000 in reimbursable expenses for August 2013.<br/>Your pay: $5000<br/>What you spend that is reimbursable: $1000<br/>What the company will reimburse you after they receive your receipts: $1000 <br/><br/>You salary for that month = $5000 - $1000 (what you spent) + $1000 (reimbursement) = $5000.<br/><br/>You could cheat and say you spent $2000 when you really spent $1000. But if you get caught good luck - consider yourself lucky if you just get fired and audited for past reimbursements.<br/><br/>Also, your&nbsp; medical allowance cannot be used for non-medical purposes so it should not add your your income - which is still $5000 per month with even a $5000 monthly medical allowance.<br/><br/>I rarely say this but please consider this carefully - you need to build your knowledge of finance before you even consider buying a home. You are not ready to purchase a home. If education is NOT possible, get someone who is really good with finances that you trust and see if buying a home is the right decision for you. In your case, and agent is typically not a financial adviser so you need to discuss this with someone at an arms distance from the transaction.<br/><br/>I am very afraid that you may end up in foreclosure and loose everything as you are not quite ready make such a huge purchase. Thu, 12 Sep 2013 20:56:00 GMT http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ 2013-09-12T20:56:00Z My understanding is that ... http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ My understanding is that it would be treated like a car allowance, but I haven't run into that specific scenario recently. My advice is to submit a full application to a licensed loan originator with 2 years tax returns and have them take it to their underwriter for review. Thu, 12 Sep 2013 19:00:00 GMT http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ 2013-09-12T19:00:00Z Only to the extent the amount ... http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ Only to the extent the amount received, exceeds the amount spent. Tue, 10 Sep 2013 18:50:00 GMT http://www.zillow.com/advice-thread/Do-mileage-reimbursements-and-medical-allowances-count-toward-getting-a-home-loan/510752/ 2013-09-10T18:50:00Z