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Brett's Mortgage Blog

How To Get A Loan If You Receive Foster Care Income…

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

 

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Brett Sampson

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