Did You Know....FHA Guidelines On Alimony and Child Support

FHA Allows Non-Court Ordered Alimony and or Child Support Payments

If you can document 6 months of consistently receiving Alimony payment and or Child Support payments FHA guidelines will allow you to use this income towards all your documented income.

If you can't show 6 months of steady payments, they will take the 2-year average of payments received during the 2-year period.

Please also make sure that payments continue for at least 3 more years. Child Support typically ends when the child is 18.

This helps families that have made agreements outside of court, which happens often. Saving on legal fees etc. is a big deal so this avenue makes sense.

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Take care and have a good one.