If you receive money from the State or a County sponsored organization for providing foster care for children you can use this money as income to get a mortgage.
Foster care income is considered acceptable stable income as long as the borrower has a 2 year history of providing foster care services.
To prove this income we would need…
• Letters from the organizations providing the income.
• Copies of the borrower’s signed federal income tax returns that were filed with the IRS, or
• Copies of the borrower’s deposit slips or bank statements that confirm the regular deposit of the payments.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
These loans are designed for self employed people that have trouble proving their income through…
I’ve written about this before, but we have more and more people passing the age…
I had this situation come up again last week, and I wanted to address it…
One of the most important things you will have to do when you apply for…
I wanted to remind you that we have a 2% to 5% downpayment and closing…
If you receive money from the State or a County sponsored organization for providing foster…
