Is temporary disability considered income for lending?

More than likely not.. for most lending programs, income has to show the ability/expectation to continue for at least 3 years to be considered.. and supporting documentation would be required to substantiate the 3 year continuance.. so regardless of your disability, it's unlikely a doctor would sign a letter stating your temporary disability would continue for 3 years. However, if you're going back to work soon, and the doctor confirms this, you might be able to use your employment income.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hi Carolyn, For most income to count in a borrower's debt-to-income ratio, it has to have the expectation that it will continue for at least three years after closing. How temporary is the disability income?

No it can not

no, not usually. Income needs to be permanent, defined as likely to continue for 3 years or more.

No

Generally not. In order for lender to approve the income source, it has to be expected to last for at least three years.

At least 3 years disability income is needed to qualify.