Qualification for Mortgage Question (loan, loan, law, lender)
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It can be. I don't know that it's automatic, but you can request it, but I don't know that if it's a law that they have to accept it as such. I think it also depends if it's taxable money or not, depending on other income, but i don't know the specifics. But yes generally SS is not taxed so I think they can multiply it by 125% as your gross income for DTI ratio.
It depends on the type of loan you are seeking, conventional loans, yes. Every lender is different (some use tax brackets), but we will gross up 125%, provided the borrower is not being taxed for making too much money. Grossing up is done on all non tax income such as child support and disability. (Must continue for at least 3 years to count).
We bought in June. Lender told me they can mark it up 15%
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