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Is there any way to deduct the alimony I get from being counted as income for qualification purposes?

by melissaholz76846 from Hardyville, Virginia. Oct 21st 2015 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Your question is confusing.. It's up to you if you wish to disclose alimony as the guidelines do not require you to disclose it.. however, if the funds are being transferred into the same account you are using for down payment and closing costs, then you must prove the source. Understand that if you choose not to disclose the alimony, then you must have sufficient income to support your debt and still be within the allowable debt to income ratio's. 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 NMLS# 226347

Oct 21st 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

I don't quite understand the question. Why would you not want to count alimony as income.

Oct 21st 2015
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Michael Bardy (LendingPro)
#24 ranked lender in Ohio - 71 contributions

It is entirely up to you if you want to claim alimony on your loan application. If you want the alimony included in your income, documentation supporting the amount and receipt of the income is required. If you prefer to not include the income, you can certainly do that as well.Please feel free to contact me with any questions you have.

Oct 21st 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

You don't have to include your Alimony income to qualify if you don't want to. What is your reason for not wanting to?

Oct 25th 2015
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