Child Support income is allowed by FHA so long as your child/children will be receiving it at least 3 more years, payments are consistently the same amount and can be documented via court order, or if not available, bank statements and/or canceled checks for the past 3 months. If you have a written agreement that has been notarized, that would be helpful as well. I'm a FHA specialist and my bank, Shore Mortgage, was founded on and specializes in FHA financing. If I can be of further assistance, please feel free to visit my Trulia profile and call me at 800-678-6663 Ext 5154 or email me at: firstname.lastname@example.org.
Your qualification is measure by the purchase price of home. To initially qualify someone, I start with an initial price and work my way up or down until he/she is qualified. The debt-to-income ratio should be less than 43% top ratio to be qualified for an FHA loan.