Tag: Annuity Income

How Does FHA Calculate 401k Distributed Income During Retirement Years?

Question: My client has income from their 401k. Each year this is a different amount based on their needs.  How would I count this type of income for an FHA loan? Mortgage Income Analyzer™ – Retirement Account Withdraws Answer: A two-year average may be acceptable for the 401k distributions, if this income type is going […]

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Fannie Mae – Continuation of Income – What types of income require documenting a 3-yr. continuance and which ones do not? [NEW MTP – Documenting Continuance of Income]

Answer: Fannie Mae makes it easy to determine which types of income require documenting 3 years of continuance vs. income that does not require this documentation. Reference: B3-3.1-01, General Income Information (7/25/2017) Continuity of Income A key driver of successful homeownership is confidence that all income used in qualifying the borrower will continue to be […]

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