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

Help the community by answering this question:

Answers

2
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
Toll free: 800-359-1996 x551
Direct: 203-783-4551
Email: fwalter@totalmortgage.com
NMLS ID: 387922
Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/
Company Website: http://www.totalmortgage.com
Total Mortgage Services, LLC - NMLS #2764

Total Mortgage offers a complete selection of mortgage programs including:
Conventional, FHA, FHA 580-639 FICO, FHA 203 Renovation (Streamline & Consultant), HomePath, VA, VA IRRL, USDA, Jumbo financing , and No Income or reduced income. Portfolio, jumbo, and conventional programs offered for self-employed borrowers as well.
If you thought my answer was helpful, please give me a "Thumbs Up" or "Best Answer." Thanks!
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
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer