Asked by Erin  |  Submitted December 17, 2015

If someone has income that they do not claim on a tax return, can that income be used to qualify for a mortgage loan?

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  2

December 18, 2015

If the income does not require you to claim on taxes, such as VA disability, then you can still use that towards qualifying. However, if this is "under the table" money, such as you worked part time for a friend building a barn and he gave you cash, then no. Most loan agencies need a two year work history to consider using the money you make from that job.

$commenter.renderDisplayableName() | 06.15.21 @ 21:38


March 25, 2016

Hi Erin.
Is the income required to be reported on your tax return?

You will need documentation for the income source used to qualify for a mortgage. Most ninja (no income, no job, application) and NIV (no income verification) type loans are no longer valid with the exception of some private lenders. In all cases, do what is in your best interest. Qualifying for a loan is meaningless if you are unable to afford it.

Feel free to send me a message to discuss further.

It's not what you make, It's what you keep that determines your lifestyle.

Hope this helps

$commenter.renderDisplayableName() | 06.15.21 @ 21:38