Which of the following conditions would allow a lender to ask questions about income received from child support?
A) The lender suspects that all income has not been properly reported
B) The children eligible for the support will be living in the home to be acquired
C) The property to be acquired is located in a community property state
D) The child support income is offered as a part of the money that will be used to repay the loan

Question

Quizplus · Accepted Answer

Lenders can inquire about income from child support if the applicant chooses to disclose this income as part of their repayment ability. This is because any income used to qualify for a loan is subject to verification by the lender to ensure the borrower has the ability to repay the loan.

Which of the Following Conditions Would Allow a Lender to Ask