Home Buyer FAQ: How Will My Income Be Calculated to Determine My Eligibility for a Mortgage Credit Certificate?
Your lender will consider income from all family members listed on the deed of trust to determine income eligibility for a Mortgage Credit Certificate (MCC). This includes income from a non-purchasing spouse. However, it would not include income from those that will not end up on the deed of trust. For example, if an 18 year old is working at the grocery store or if grandma is living with you and receiving social security.