{"id":7661,"date":"2023-03-23T09:12:57","date_gmt":"2023-03-23T14:12:57","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?page_id=7661"},"modified":"2024-07-03T08:45:46","modified_gmt":"2024-07-03T13:45:46","slug":"income-sources","status":"publish","type":"page","link":"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources","title":{"rendered":"Other Acceptable Income Sources"},"content":{"rendered":"\n<div style=\"background-color:#dce4ef;padding-left:5%;padding-right:5%;padding-bottom:5%;padding-top:10%\" class=\"wp-block-genesis-blocks-gb-container gb-layout-hero-1 gb-block-container alignfull\"><div class=\"gb-container-inside\"><div class=\"gb-container-content\" style=\"max-width:850px\">\n<h1 class=\"wp-block-heading has-text-align-center gb-white-text has-theme-primary-color has-text-color\" style=\"font-size:56px\">Other Acceptable Income Sources<\/h1>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-theme-primary-color has-text-color has-large-font-size\" style=\"font-size:56px\">A guide to other types of incomes that your lender can accept<\/h4>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-genesis-blocks-gb-container gb-block-container\"><div class=\"gb-container-inside\"><div class=\"gb-container-content\">\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/www.morty.com\/resources\/\">Resources<\/a><\/span> &gt; <span><a href=\"https:\/\/www.morty.com\/resources\/mortgage-manual\">Mortgage Manual<\/a><\/span> &gt; <span><a href=\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\">Income &amp; Employment<\/a><\/span> &gt; <span class=\"breadcrumb_last\" aria-current=\"page\">Other Acceptable Income Sources<\/span><\/span><\/div>\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div><\/div><\/div>\n\n\n\n<div style=\"color:#32373c\" class=\"wp-block-genesis-blocks-gb-drop-cap drop-cap-letter gb-font-size-3 gb-block-drop-cap\"><div class=\"gb-drop-cap-text\">\n<p><\/p>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-genesis-blocks-gb-columns gb-layout-columns-2 gb-2-col-equal\"><div class=\"gb-layout-column-wrap gb-block-layout-column-gap-2 gb-is-responsive-column\">\n<div class=\"wp-block-genesis-blocks-gb-column gb-block-layout-column\"><div class=\"gb-block-layout-column-inner\">\n<ul class=\"wp-block-list\">\n<li>Accessory unit<\/li>\n\n\n\n<li>Alimony or child support<\/li>\n\n\n\n<li>Automobile expense account<\/li>\n\n\n\n<li>Boarder income<\/li>\n\n\n\n<li>Capital gains<\/li>\n\n\n\n<li>Dividends\/interest<\/li>\n\n\n\n<li>Employment-related assets<\/li>\n\n\n\n<li>Foreign income<\/li>\n\n\n\n<li>Foster-care<\/li>\n\n\n\n<li>Housing choice voucher program (Section 8)<\/li>\n\n\n\n<li>Military base pay, clothes allowance, combat pay, flight pay, hazard pay, overseas pay, prop pay, quarters allowance, rations allowance, variable housing allowance. (All military income can be combined and entered as Base Income in Section V for conventional loans.)<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-genesis-blocks-gb-column gb-block-layout-column\"><div class=\"gb-block-layout-column-inner\">\n<ul class=\"wp-block-list\">\n<li>Mortgage credit certificates<\/li>\n\n\n\n<li>Mortgage differential payments income<\/li>\n\n\n\n<li>Non-borrower household income<\/li>\n\n\n\n<li>Notes receivable and installment debt<\/li>\n\n\n\n<li>Other types of income<\/li>\n\n\n\n<li>Pension and retirement income<\/li>\n\n\n\n<li>Royalty payment<\/li>\n\n\n\n<li>Seasonal income<\/li>\n\n\n\n<li>Schedule K-1<\/li>\n\n\n\n<li>Social Security disability income<\/li>\n\n\n\n<li>Temporary leave (see data entry instructions below)<\/li>\n\n\n\n<li>Tip income<\/li>\n\n\n\n<li>Trust income<\/li>\n\n\n\n<li>Unemployment and public assistance income<\/li>\n\n\n\n<li>VA benefits (non-education)<\/li>\n<\/ul>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What do we need?<\/h2>\n\n\n\n<p>In general, the most important things to be shown and verified for any income streams during underwriting are:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Stability of Income: Most broadly, you will want to show this income stream on your most recent two years of tax returns (1040\u2019s). It should be stable or increasing.<\/li>\n\n\n\n<li>Continuity of Income: Any income source that has a definitive expiration date needs to be expiring more than three years after the closing date.&nbsp;<\/li>\n\n\n\n<li>Ongoing Receipt of Income: For all income streams we will need to be able to show the most recent expected receipt of income has been completed, and this is defined by the historical frequency of payment.<\/li>\n<\/ol>\n\n\n\n<p>Follow\u00a0<a href=\"https:\/\/selling-guide.fanniemae.com\/sel\/b3-3.1-09\/other-sources-income\">this link<\/a>\u00a0to the Fannie Mae Guidelines for specific requirements pertaining to your type of income.<\/p>\n\n\n\n<div class=\"wp-block-genesis-blocks-gb-container gb-block-container\"><div class=\"gb-container-inside\"><div class=\"gb-container-content\">\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>What do we need? In general, the most important things to be shown and verified for any income streams during underwriting are: Follow\u00a0this link\u00a0to the Fannie Mae Guidelines for specific requirements pertaining to your type of income.<\/p>\n","protected":false},"author":30,"featured_media":0,"parent":8210,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","_lmt_disableupdate":"","_lmt_disable":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"class_list":["post-7661","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Other Income Sources | Morty Resources<\/title>\n<meta name=\"description\" content=\"A guide to other acceptable income types for Conventional and government-backed mortgages.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Other Income Sources | Morty Resources\" \/>\n<meta property=\"og:description\" content=\"A guide to other acceptable income types for Conventional and government-backed mortgages.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources\" \/>\n<meta property=\"og:site_name\" content=\"Morty Resources\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/HiMorty\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-03T13:45:46+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@himorty\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources\",\"url\":\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources\",\"name\":\"Other Income Sources | Morty Resources\",\"isPartOf\":{\"@id\":\"https:\/\/www.morty.com\/resources\/#website\"},\"datePublished\":\"2023-03-23T14:12:57+00:00\",\"dateModified\":\"2024-07-03T13:45:46+00:00\",\"description\":\"A guide to other acceptable income types for Conventional and government-backed mortgages.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.morty.com\/resources\/mortgage-manual\/income-employment\/income-sources#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Resources\",\"item\":\"https:\/\/www.morty.com\/resources\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Manual\",\"item\":\"https:\/\/www.morty.com\/resources\/mortgage-manual\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Income &amp; 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