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Updated over 1 year ago,

User Stats

7
Posts
4
Votes
Senai Gebrekristos
  • Rental Property Investor
  • Los Angeles, CA
4
Votes |
7
Posts

First Time Home Buyer using Living Trust to Qualify for FHA Loan

Senai Gebrekristos
  • Rental Property Investor
  • Los Angeles, CA
Posted

Hope someone can help give me some clarity on this! I'm a first time home buyer looking to buy a duplex in expensive LA county. I'm going through FHA and I have heard that you can use your living trust as proof of income (along with W2 income) to help qualify for a loan.

My question is, are all lenders familiar working with this type of income or is this a situation I take to a lender who is specifically experienced working with trust income. I guess I'm not sure how common this is and I know not all lenders are experienced with some nontypical forms of income. Thanks in advance!!

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