Need information on using non-court ordered alimony to buy a home (credit, lender)

[leslie07]

hello,
Can someone please give me information on using non-court ordered alimony to buy a home? My ex boyfriend is giving me alimony for my school and our son, I want to use that money to buy a home. Will I be able to purchase a home? Im already pre-qual, but waiting to hear from the underwriter dept. I have good credit, low debt, will I qualify? PLease help going nuts!!!!!!!

[VictorBurek]

I don't think you will be able to use non-court ordered alimony/child support. The concern from the lender view point will be is the income going to continue. If not court ordered, how can the lender be assured the income will continue?

[leslie07]

I get 6000 a month, I have been receiving this amount for 7 months now. I have a notarized letter that we both signed since we were never married. The letter states I will receive alimony for 5-6 years and after that 1/2 of the 6000.00 for another 12 years. This alimony is for child support. I live in Ca. Can I please get more advice. Thanks.....

[evilnewbie]

Wow... you get 6k a month for alimony/child support? I bet you have some interesting stories.. but I think it will be difficult to get a mortgage with just a "letter"... I would ask the lender since they are quite variable but 7 months seems a bit short for a history of payments...

[Kathleen1971]

Sorry. Not gonna happen. At least not in my 18 years of experience. It's not court ordered which is the only way to really verify it will continue and 7 months in no where near enough time. I am sorry. I know it's not what you want to hear but sadly it's just the way it is. For your sake though I sincerely hope I am wrong and you can find some way to use it. Best of luck to you.