Foreign Income
Foreign income is income that is earned by a borrower who is employed by a foreign corporation or a foreign government and is paid in foreign currency. Borrowers may use foreign income to qualify if the following requirements are met.
Copy of signed federal income tax return for the most recent one year that include foreign income.
The underwriter must satisfy the standard documentation requirements based on the source and type of income as outlined in the Income Assessment section.
All documents of a foreign origin must be completed in English, or the originator must provide a translation, attached to each document, and ensure the translation is complete and accurate.
Note: All income must be translated to U.S. dollars. If the borrower is not a U.S. citizen, refer to Non–U.S. Citizen Borrower Eligibility Requirements, for additional information.
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