Home Buying in New Haven>Question Details

Drucilla Coo…, Other/Just Looking in New Haven, CT

Is workers comp. considered income?

Asked by Drucilla Cooper, New Haven, CT Sun Jun 7, 2009

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I'm not totally sure whether or not worker's comp would be considered income. For all intents and purposes, it does qualify as an income in some regards. However, when you try to count it as something that you're working to earn, that definition might break down. I think that it depends on the context.
0 votes Thank Flag Link Thu Feb 19, 2015
Hi Drucilla, you would have to provide proof of continuance for at least 3 years then it can be considered income for a mortgage lender. Let me know if you have any further questions, I am happy to help.

All the best,

Fritz Walter
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0 votes Thank Flag Link Tue Jul 30, 2013
I wouldn't think that workers comp would be considered an income for home buying. However, I think there would be different circumstances that would need to be talked about with different lenders, as Dan mentioned. I guess it would also depend on how long you get workers comp and how often. http://www.workerscompensationvermont.com
Flag Fri Oct 24, 2014
Different lenders may look at it differently. Your best bet is to contact a mortgage broker and discuss the specifics of your situation and get specific answers that apply to you.
Web Reference: http://www.danrossre.com
0 votes Thank Flag Link Sun Jun 7, 2009
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