Ask the Residential Mortgage Underwriter: Using Alimony or Child Support as Income

Q: If someone is receiving Alimony or Child Support income, how long do they have to receive it for the lender to be able to use this income for qualifying purposes on the loan?

A: Six months. The easiest way to document receipt of this sort of income is cancelled checks. So, copies of front and back of the last six cancelled checks will enable a lender to be able to use this income IF the income will continue for at least three more years. A copy of the divorce decree is also needed as are copies of the children’s birth certificates to prove their age.


December 17, 2012 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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