Child support/alimony will be considered when based on a divorce decree, court ordered separation agreement, court decree, or another legal agreement providing the payment terms confirm that the income will continue for minimum 3 years.
Evidence must be provided to document that the funds have been received for, at minimum, past 3 months: i.e. bank statements showing the deposits and copies of the cancelled checks.
If a Borrower who is divorced does not have a court order or legal agreement that specifies the support payments, the support income cannot be used to qualify.
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