Increasing my income through a dependent.

The_NV_Guy · Joined: 09 Feb 2010 Posts: 6 Location: Mid-Atlantic

Increasing my income through a dependent.

I currently take my mother as a dependent on my taxes and was wondering if because of that I can add her social security income to mine when applying for a loan BUT not have them pull her credit, her's is below 500 while mine is right at 700.

TNG

TimtheMortgageGuy · Joined: 16 Jan 2008 Posts: 96 Location: Rosemount, MN

The_NV_Guy wrote: Increasing my income through a dependent.

I currently take my mother as a dependent on my taxes and was wondering if because of that I can add her social security income to mine when applying for a loan BUT not have them pull her credit, her's is below 500 while mine is right at 700.

TNG

One of the seemingly billion rules in mortgages is....if you use the income you have to use the credit. So, in your example you would not be able to use your mother's income.