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Tagged: employment, household members
I’m purchasing in CA, and I want to be the only one on the loan, everyone in my household is over 21. Would my household’s employment count as extra income or would they only count mine?
Reposting, not sure if it went live.
The only income that is ever counted by federal law is applicants on the loan.
All debt from all household members over 21 becomes your debt.
You will be qualified based on the idea you can provide for the entire household including paying your household members debt payments if they become unable to do so.
Just a reminder through naca you are not allowed to take in paying roommates without purchasing a multi family property and taking a class to become a certified landlord.