When a borrower applies for an FHA insured home loan, part of the qualifying process includes having all sources of income reviewed and verified. Some income can’t be used for purposes of qualifying for an FHA mortgage–usually anything which is not steady, reliable, and likely to continue can’t be claimed.
By the same standards, some types of income are not required to be listed, but if they are not listed and verified that source of income can’t be considered for the purposes of qualifying for the FHA mortgage.
Alimony, child support, and maintenance income falls into this category. If a borrower chooses not to list that type of income, it’s his or her choice–but the income must be listed and verified in order to be used to qualify for the FHA guaranteed mortgage.
Alimony, child support, and maintenance income is not automatically considered verifiable. These payments are considered “effective income” when, according to the FHA official site: