Can per diem income be used on your mortgage loan?
This question is as answered on a case by case basis. Generally per diem is given a reimbursement of expenses. In this scenario, the income cannot be used for qualifying for a mortgage. When speaking with a lender, it is very important to distinguish up front how the per diem is paid. Lenders look at the following:
1. Is it a reimbursement of expenses?
2. Is it steady income every pay period?
3. Is it expected to continue?
Contact me today for more information!
Danielle Hifko
New American Mortgage
910-581-6398
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