Buying A Home
citygirlBK
newb
Need advice Army wife
We are trying to get our first home but my income cannot be counted due to my credit, so my spouse is the only person listed on the application and we would like to know if anyone knows if my income can be listed as child support because I do help my spouse monthly with child care. Thanks! in advance
Re: Need advice Army wife
NO
IF your DH is paying court ordered child support - , HIS child support is considered in the debt column of your finances. Because you might help care for the child on visitation days -- NO, that is not child support - that is DH support.
Why is your credit bad and have you fixed this? I would start there.
Are you financially ready to buy? Have a good emergency fund in place? A good down payment in hand? Savings for closing costs, moving and start up costs, repair/renovations/decorating/additional furniture/appliaces/yard items etc etc?
Don't be in a hurry to buy - wait until you are on solid financial ground.