Updated about 2 years ago on . Most recent reply
First Time Home Buyer using Living Trust to Qualify for FHA Loan
Hope someone can help give me some clarity on this! I'm a first time home buyer looking to buy a duplex in expensive LA county. I'm going through FHA and I have heard that you can use your living trust as proof of income (along with W2 income) to help qualify for a loan.
My question is, are all lenders familiar working with this type of income or is this a situation I take to a lender who is specifically experienced working with trust income. I guess I'm not sure how common this is and I know not all lenders are experienced with some nontypical forms of income. Thanks in advance!!
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Julien Jeannot
#4 House Hacking Contributor
#4 House Hacking Contributor
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Julien Jeannot#4 House Hacking Contributor
#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
I'd start calling lender and interviewing them.