If a single parent is applying for a real estate loan, when would the fact have to be revealed that part of the parent's income is from child support?
1 - When applying for a VA or FHA loan if the parent's income is less than $25,000
2 - If more than 50% of the parent's income is non-wage sources
3 - If the parent was relying on the income for repayment of the loan
4 - This type of income never needs to be disclosed. It would be a violation of ECOA.