Social Connection
Do banks consider Unemployment Benefits as income when getting a mortgage?
May 19th, 2010 | 
Author: My boyfriend and I are planning on buying a house. He’s working and I just recently became unemployed, and I receive unemployment benefits. So we were wondering if banks would consider that as income?
Popular Posts:
- Stocks Posting Sharp Losses In Early Afternoon Trading – U.S. Commentary
- TIer 5 Unemployment Extension Update 05/15/2010
- How does one qualify to receive the FED-ED unemployment insurance extension in California?
- NCESC Unemployment Benefits – www.ncesc.com « Breaking News
- How can i get money?I am a jobless person and don’t have any source of income with me.?
Incoming search terms:
- do banks include unemployment income as income
- do lenders consider unemployment income
Tags:
not a chance
no because you could be disqualified from the benefits at any time
How long do you figure you will be getting these unemployment benefits? For the 30 year term of the loan? Of course they do not consider this as income. Maybe you should wait until you get a job before you think of buying a house. After all the financial problems this country has gone through I’m amazed at the number of people who have learned absolutely nothing from the ordeal. You really believe it makes any sense of all to take on this debt while you’re unemployed? Have you no common sense whatsoever?
In your situation, it doesn’t seem to be qualified, but I’d recommend you to go ahead and call your local unemployment office, and get a clear answer.