Adoption Income vs. Foster Income – Did you know that Adoption Income is considered income when financing a home, but Foster Income may not be, depending on the home loan program? If you are receiving either of these types of income, let’s talk to make sure you find the perfect home loan for your needs.
Related Article Title: Will Adoption Income Count? Question: Can adoption income be used as income? Answer: Adoption assistance would fall under the “Public Assistance Income” guideline, which requires that the income cannot expire within 3 years from the date of mortgage application. (See guideline below.) Reference: 4000.1 II.A.4.c.xii(F) or II.A.5.b.xii(F) Public assistance refers to income […]