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11y ago

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Stable income or stably income?

A stable income is an income that remains the same and can be counted on. This is very important when one has to support family and keep a home.


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Yes, but they must be able to prove enough stable income to support their new mortgage payment. A good rule of thumb is that their new monthly mortgage payment should not exceed 31% of their GROSS (income BEFORE tax) monthly income. Stable income is income that has been received on a consistant basis for a minimum of 2 years. If your source of income is from Disability, Child Support, Alimony, or Social Security, you must be able to prove that you will continue to receive this income for at least the next 3 years.


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The best answers to get a loan are having a good credit score, stable income, low debt-to-income ratio, and a solid repayment plan.


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