Sometimes you receive income from somewhere else that isn’t a job. Any time you receive non-employment income, we like to review documents to verify it. Here are the different types of income we can use and what documents you’ll need to send for it. 

Benefits
Child Support

Benefits

Q: What documents do you need if I have VA disability benefits, a pension, or Social Security benefits?

A: If you have any sort of benefits or pension that you receive, we ask you to submit your eligibility letter or award letter confirming how much you receive per month. 

Q: What documents do you need if I’m eligible for a VA loan?

If you’re looking for a VA loan, we’ll need to see both your DD214 and Certificate of Eligibility (COE). The DD214 is a document that verifies your military service and discharge. Here’s an example of what that looks like:

The Certificate of Eligibility is a form provided by the VA that indicates if you’re eligible for a VA loan. That document will look something like this:

Q: Is my 1099 from these awards sufficient?

A: We need to see the award letter for the current year, so your 1099 isn’t necessary. 

Q: My only source of income is benefits – what other documents do I need to provide?

A: You’ll need to provide:

Child Support

Q: What documents do I need to provide if I receive child support?

A: We’ll need to see a legal agreement like a divorce decree or child support agreement that details how much you’re paid each month and the age of your children. We also need to see verification that the child support money has been deposited into your account for the past 6 months. 

Q: Why do you need to know the age of my kids?

A: Child support continues until a child turns 18. In order for mortgage lenders to count this income towards your mortgage budget, they need to know if the payments will continue for a long period of time. For that reason, we can only consider child support income for children 13 years old or younger. 

Q: What if I receive alimony?

A: Similar to child support income, we’d need to see the divorce decree verifying the payments and verification that you’ve received the payments for the past 6 consecutive months.