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What is required to use an automobile allowance as income?

Automobile Allowance

For an automobile allowance to be considered as acceptable stable income, the borrower must have received payments for at least two years. The lender must add the full amount of the allowance to the borrower’s monthly income, and the full amount of the lease or financing expenditure to the borrower’s monthly debt obligations.

For additional information, see B3-3.1-09, Other Sources of Income.

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