Question about mortgage when I apply loan or line of credit with cash back Do I count as income .....Something to show proof of fund in bank if qualify for second house as income? Would this work out with lender new loan?
Borrow money as income ?
No. Money you receive from a loan is not income.
The only time a loan is counted as income is when a bank charges cancels a debt. In most instances, the canceled debt is treated as income.
Borrow money as income ?
Absolutely no.
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