{"id":620,"date":"2014-08-03T20:33:06","date_gmt":"2014-08-03T20:33:06","guid":{"rendered":"http:\/\/teammovemortgage.com\/2014\/08\/03\/using-a-pastor-ministers-housing-allowance-to-qualify-for-a-mortgage-loan\/"},"modified":"2020-07-13T22:37:42","modified_gmt":"2020-07-13T22:37:42","slug":"pastor-housing-allowance","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/pastor-housing-allowance\/","title":{"rendered":"Using a Minister or Pastor Housing Allowance to Qualify for a Mortgage Loan"},"content":{"rendered":"

We Understand a Pastor’s Nontaxable Income<\/h2>\n

You are going to say “Amen, it’s about time someone understands my income!”.  <\/strong>Because our team fully understands how the pastor housing allowance may be counted for mortgage loans.  So whether you are a pastor, priest, or reverend, often you receive nontaxable income. But the problem is that lenders won’t count a large portion of your income.  This is such a popular issue among pastors, it is one of our most read articles.<\/p>\n

Pastor Housing Allowance Explanation<\/h2>\n
\"Using
Using pastoral housing allowance as income to qualify for a mortgage<\/figcaption><\/figure>\n

First, the IRS looks at the pastor housing allowance income as an exclusion from income. Therefore housing allowance is not reported as taxable income on the personal tax returns.  So this can be used for mortgage qualification even though it does not show on tax returns.  More than likely you are reading this article because a lender will not count pastoral housing allowance.  But again, we know how to help!<\/p>\n

Pastor Housing Allowance Requirements<\/h2>\n

In order to count this nontaxable income on a purchase or refinance, we require specific documentation.  Most of the time these items are easily obtained from the church.  So here is the normal paper work we need to prove the nontaxable income source(s):<\/p>\n