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Laurie Abshier

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Mortgage Broker or Lender
Laurie Abshier answered:
Normally child support is an acceptable source of income on a loan application with supporting documentation such as a minimum of 3 months cancelled checks, divorce decree or court order, and proof that you have actually deposited the money into your bank account in a consistent manner. Underwriters need to see the continuance of the income for a minimum of 3 years so some type of proof of age of your child is necessary. Since you do not have a court order I would suggest at minimum a written, notarized agreement on the specified amount of the monthly obligation. - Thu Oct 1 2009, 11:47

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