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Borrow money as income ?


Question about mortgage when I apply loan or line of credit with cash back Do I count as income .....Something to show proof of fund in bank if qualify for second house as income? Would this work out with lender new loan?

No. Money you receive from a loan is not income.

The only time a loan is counted as income is when a bank charges cancels a debt. In most instances, the canceled debt is treated as income.

Absolutely no.

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