One of the most beneficial guidelines we offer involves housing allowance income tied to employer relocation programs.
Most lenders require a 12-month history of receipt before counting certain income types toward qualification. But in Michigan, where relocation is common across industries such as automotive, manufacturing, healthcare, education, and tech, this rule can unnecessarily slow or block qualified buyers who are moving for work.
That’s why we do NOT require a 12-month history of receipt when the income stems from an employer-provided housing allowance as part of a relocation package.
If your Michigan employer includes a housing allowance in your relocation benefits, we consider that income to be stable, consistent, and eligible to help you qualify right away.
Michigan Homebuyers
Michigan attracts thousands of relocating professionals each year thanks to major employers such as Ford, GM, Stellantis, Beaumont, Henry Ford Health, U-M, MSU, Amazon, and dozens of growing tech firms. Many of these employers offer housing allowances to help employees transition smoothly.
Our guideline means:
- You can qualify sooner, even before the allowance has a long payment history
- You can potentially afford a more home thanks to the added income
- You can move forward faster in competitive markets like Ann Arbor, Detroit, Grand Rapids, and Novi
- You avoid unnecessary delays caused by restrictive underwriting at other lenders
A Michigan-Focused Solution
Relocating to Michigan, whether for a new role, a promotion, or a transfer, often comes with tight timelines. This guideline helps Michigan borrowers take advantage of great job opportunities without sacrificing their ability to secure a home quickly.
If you’re moving to Michigan and your employer is offering a housing allowance, our team can help you leverage it immediately to strengthen your mortgage application.
