If I want to rely on the alimony or child support that I receive in my mortgage or home equity loan application, does a lender or broker have to consider that income?
Yes, if the payments are likely to be consistently made.
A creditor such as a lender or broker can consider the amount of such income and likelihood that it will continue, as with all other forms of income. In determining this, a lender or broker may consider factors such as whether there is a written agreement or court decree, how long and how regularly you have been receiving payments, and the creditworthiness of the payor when that information is available.