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

[Senai Gebrekristos]

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!!

[Julien Jeannot]

I'd start calling lender and interviewing them.