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Does Number of Dependents Affect Qualify for Mortgage?

Does the number of dependents you have affect your ability to qualify for a mortgage?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

The number of dependents you have does not directly impact your ability to qualify for a mortgage. If you are required to pay alimony or child support, then the number of dependents you have does impact your ability to qualify for a mortgage because those monthly alimony or child support payments are included as debt in your debt-to-income ratio when you apply for a mortgage. If you do not pay alimony or child support, the number of dependents you have does not affect your mortgage application. We provide a comprehensive overview of borrower qualification requirements for a mortgage including credit score, debt-to-income ratio, employment history and other factors.

Please note that if you are applying for a VA Home Loan, your family size impacts the amount of residual income you are required to have to qualify for a mortgage.  Residual income is your leftover monthly income after subtracting total monthly housing expense, taxes, other monthly debt payments (such as for credit cards, auto and student loans), maintenance and utility expenses, child care expenses and social security.  The larger your family, the higher the monthly residual income you are required to have, so the number of dependents you have indirectly impacts your ability to to qualify for a VA Loan.

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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