State Income.

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diivo

76 Posts

Posted - 04/02/2008 : 12:15:59 PM

I have a couple that came to me for a refi. They are a non-married couple, male and female. The female brings in about 2/3 of total income. Their scenario fit an FHA refi, so I submitted the pack to the lender last week. While we have been waiting for UW (which is backed up for about 6-8 days with this lender), the male lost his job due to a back injury. He is now out of work, but gets paid from the state. His new state pay would still keep their DTI in a decent place, but who in the world accepts state disability for income? The doctor cannot say that he'll be injured for at least 3 years?

Chris Clark

5966 Posts

Posted - 04/02/2008 : 1:53:54 PM

Will he be able to return to work once he is healed?

Is he on short-term or long-term disability?

These are just a few things you need to know in order to present this loan to an underwriter...

diivo

76 Posts

Posted - 04/02/2008 : 2:53:08 PM

Given that I meet whatever criteria they have, income from the state can be used to qualify? That's all I'm asking I spose.. Is this work working on?

michael@valleyfi

79 Posts

Posted - 04/02/2008 : 3:04:44 PM

Perm disability - but other non perm - I'd think not. Let us all know when you find it fromt he horses mouth.

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