Navigating the 6/36 Rule: How Spousal and Child Support Qualify as Income for a Minnesota Divorce Mortgage

When considering the use of child support income for purchasing a house in Minnesota, it's crucial to understand the requirements and waiting periods set by mortgage lenders. Child support can be counted as part of your income, which can help you qualify for a mortgage, but there are specific conditions you must meet. Here's a guide to help you navigate this process:

Understanding Child Support as Income. Child support payments can be used to qualify for a mortgage, but lenders typically require:

Proof of Continuity: Lenders need to see that child support payments will continue for a certain period, often at least three years from the date of the mortgage application. This ensures that the income is stable and reliable.

Documentation: You must provide official documentation of the child support agreement, such as a divorce decree or a court order, showing the amount and duration of the payments.

Payment History: Lenders generally require a history of consistent, on-time child support payments. This typically means providing proof of receipt for at least the past six months to a year.

Steps to Qualify for a Mortgage with Child Support Income

1. Gather Documentation: Collect all necessary documents, including your child support agreement, proof of payments, and bank statements showing the deposits.

2. Ensure Continuity: Verify that the child support payments will continue for at least three more years. If the child is nearing the age where support will end, this could affect your eligibility.

3. Consult a Mortgage Lender: Speak with a mortgage lender who can guide you through their specific requirements and help you determine if your child support income will qualify you for a loan.

There is no universal "waiting period" for using child support income to buy a house in Minnesota. However, the requirement to show a consistent payment history means you typically need to have been receiving child support for at least six months to a year before applying for a mortgage.

Tips for a Smooth Process

- Maintain Good Financial Records: Keep meticulous records of all child support payments and any correspondence related to your child support agreement.

- Stay Current on Payments: Ensure that all child support payments are up-to-date and consistent. Lenders look for reliability and consistency.

- Consider Other Income Sources: If your child support income alone isn't sufficient to qualify for a mortgage, consider combining it with other sources of income.

Using child support income to buy a house in Minnesota is possible, but it requires careful documentation and proof of consistent payments. By understanding the lender's requirements and preparing the necessary documents, you can increase your chances of qualifying for a mortgage. Always consult with a mortgage professional to get specific advice tailored to your situation.

Jeff Vorlicky
Branch Manager / Loan Officer
D 612.986.6927
F 651.314.4172
W mymnmortgage.com
E jeff.vorlicky@ccm.com
CrossCountry Mortgage, LLC
2165 Woodlane Drive, Suite 101
Woodbury, MN 55125
Personal NMLS452455 Branch NMLS1985797
Company NMLS3029
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Disclaimer: The above guest blog post was written by Jeff Vorlicky, Branch Manager / Loan Officer with Cross County Mortgage, LLC. He has no official ties to this website or blog.