Social Security Income

The following table provides verification requirements for Social Security income.

	Verification of Social Security Income
	Social Security income for retirement or long-term disability that the borrower is drawing from their own account/work record will not have a defined expiration date and must be expected to continue. Social Security income based on another person's account/work record or from the borrower's own work record, but for the benefit of another (such as a dependent) may also be used in qualifying, provided the underwriter documents a 3-year continuance.
	Document regular receipt of payments, as verified by the following, depending on the type of benefit and the relationship of the beneficiary (self or other) as shown in the table below.

Documentation Requirements:

Benefit Type	Borrower own Account	Benefit of Other
Type of Social Security benefit	Borrower is drawing Social Security benefits from own account/work record 1	Borrower is drawing Social Security benefits from another person’s account/work record or from their own account/work record for the benefit of another2
Retirement	Social Security Administration's (SSA) Award letter, SSA-1099, Most recent signed federal income tax returns (or tax transcripts3), or Proof of current receipt	SSA Award letter, Proof of current receipt, and Three-year continuance4
Disability	SSA Award letter, SSA-1099, Most recent signed federal income tax returns (or tax transcripts3), or Proof of current receipt	SSA Award letter, Proof of current receipt, and Three-year continuance4
Survivor benefits	NA	SSA Award letter, Proof of current receipt, and Three-year continuance4
Supplement Security Income (SSI)	SSA Award letter, and Proof of current receipt	NA