This is from a lender that I use a lot and some of these are kind of funny to try and use as income.... 😂 

  • Student Loan Money – Oh yes lenders get this one often and no that is not an acceptable source of income. 
  • My Mom and dad give you $15,000.00 per year!  Good for you, that is a gift and can be stopped at any point!  Not an acceptable source of income!
  • An ADU, or room rent?  Good try and again, the banks do not accept those as a form of income.  Now if your ADU is on an investment property and you show it for that address, we would be able to use it because we don’t know that the income is derived from the main residence or the ADU. 
  • I Airbnb my house when I am out of town?   Ooh that’s a good one and if you show the income then we will have to give you an investment property loan on your primary residence.  Most people don’t show that income anyway! 
  • I get paid under the table – Perfect, well if we have a little stronger housing market then you may be living under a freeway.  Show the income then we can use it.  I bet you got the $1200.00 from the Stimulus plan too! 
  • My Hubby makes most of the money, but he has bad credit can we use his income, and my credit? – Well, this worked in 2005, but it won’t ever work again!   
  • I have a credit card that gives me cash back at the end of the year.  Would you believe that this is an acceptable source of income?  Well if you do then you would be wrong! 
  • My parents are really old and when they die they will leave me money.  Good try, and I hope they live forever and torture you by buying cars, boats and expensive vacations.