72 t as Income (reduce, pension, qualifying, tax return)

[towlfan]

Can I use a distribution from a 72 t as qualifying income for a mortgage. I was told that I must show receiving distributions for two years before it can be considered. Is this correct?

[Pfhtex]

Generally, consistent, identical, monthly distributions, with enough left to continue said distributions for 36 more months. These days, they might want to see another income source.

AND that income might be offset, reduced, or even fully negated by other losses such as may be seen on personal and/or business tax returns.

[towlfan]

Thanks for the reply. Yes I also have a pension along with SS.