Watch this video and take a few notes:

  • seasonal pay
  • child support
  • retirement pension payments
  • unemployment compensation
  • VA benefits
  • military pay
  • Social Security income
  • alimony, and
  • rent paid by family

all qualify as income sources.

Part-time pay, overtime, and bonus pay also count as long as they are steady. Special savings plans-such as those set up by a church or community association – qualify, too. According to HUD, income type is not as important as income steadiness with the FHA.

 
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