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Does disability count as income for a mortgage?

Can I use evidence of ongoing disability to increase my income to debt ratio for refinancing a home loan? by linda._506_797 from Auburn, Alabama. Nov 7th 2011 Reply


J Martin (jmarr91)
#10 ranked lender in Georgia - 25 contributions

Yes, as long as it's stable income that you will be receiving on a long term basis.

Nov 7th 2011
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Elden Alvarez (ealvarez)
#34 ranked lender in Georgia - 16 contributions

Hello LindaAs long as you will be receiving disability for more than three years you can use it. It will lower you debt ratio and that is what you need.if you need anything else you can call me at 678-226-7840.Thank youElden AlvarezMortgage BankerBrand MortgageDuluth, GA

Nov 7th 2011
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Tommy Peoples (TommyPeoples)
#8 ranked lender in Alabama - 19 contributions

Linda, Absolutely. Give me a call at 877-634-2390. My office is in Daphne just outside of Mobile. Tommy Peoples, Branch Manager, Southwest Funding.

Nov 7th 2011
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Disability income is considered if you can prove that it will continue for the next 3 years. The key word here is PROVE. You will have to have your doctor write a letter stating that your disability is either permanent, or that it will continue for 3 years.. Some doctors will, most wont.. good luck... WilliamAcres.com

Nov 7th 2011
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Absolutely. Any regularly recurring income stream is eligible to be used for qualifying for a loan. The usual requirement is that the income must be regular and likely to continue. Most lenders use a three year continuance in determining acceptability. If your disability is permanent and the payments can be shown to not be temporary, then a lender will consider them. If, however, the disability must be reevaluated periodically (like annually) to determine if you are still disabled enough for payments, it is not considered permanent and it is doubtful a lender will consider them in qualifying. I hope this helps.

Nov 7th 2011
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Ron Wohlfarth (RonWohlfarth)
#34 ranked lender in New Jersey - 65 contributions

Yes disability income is considered income if it will continue for a minimum of 3 years... You will need a confirmation letter from a Doctor or a document from the government confirming your longterm eligibility for disability...Additionl questions or concerns, please contact us856-853-1234Money@RonWohlfarth.comwww.RonWohlfarth.com

Nov 8th 2011
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Yes and it is discrimination if they ask for a doctors note. Check with HUD or the Justice Dept or look up the lawsuits about it. Housing Discrimination if they ask you for medical information or doctors note.

Aug 8th 2013
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