Will alimony and child support hurt my chances of approval for a home loan?

Any court ordered alimony or child support payment would count the same as any monthly payments you are responsible for. Depending on your income, it could have an effect on the loan amount you are approved for. It's not a big obstacle as it might seem, you can get pre-approved based on your current income/credit, and once you know what size loan you are approved for, you can look for a house in that range.

Your alimony and child support will be figured into your overall debt to income ratio. We would be happy to review your scenario in greater detail, when your time permits. Call us at 800 315 8803, 7 days a week. Jamie Lynne - Lending Since 1989

If you have outstanding alimony or child support, it may hinder your ability to qualify. If you are current and still making payments, underwriters will count those monthly payments in you Debt-to-Income Ratios. Feel free to call me for more information. I am located in Costa Mesa, CA. Jimmy Vu - American Financial Network - 949.287.4134

Child support and alimony will not keep you from qualifying for a home loan, even if your are slightly behind in payments it should not stop you from qualifying. There are specific gudielines to follow regarding both but feel free to call, text or email any additional questions to: James Terry American Financial Network Inc.909-996-9714 JTerry@afncorp.com. Available 7 days a week to answer any questions. No question is too big or too small. Thank you.

If your receiving child support or alimony, you can use it as income so long as it will continue for another 3 years minimum.. if your paying child support or alimony, then it will be counted against you as a debt.. if you have sufficient income to pay all your debt as well as your new mortgage payment and you fall within the allowable ratios, then no problem.. 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

You will have to count the alimony and child support into your DTI debt to income ratio. Depending on the type of loan program you go with will depend on the max DTI the program will allow. FHA for instance will allow more than a Conventional loan will, however you will have to still pay mortgage insurance with FHA, even with 20% down. Your best bet is to do a loan application with credit and get pre-approved. This way you will know for sure what you can or can't do. Best wishes, Sean