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.
|✓||Verification of Foreign Income|
|Copies of his or her signed federal income tax returns for the most recent two years that include foreign income.|
|The lender must satisfy the standard documentation requirements based on the source and type of income as outlined in Chapter B3–3, Income Assessment.|
For additional information, see B3-3.1-09, Other Sources of Income.