House Modification Funding : Contents
Assessed income
To determine a client's assessed income, you must take into consideration their cash assets.
For each $1,000 of assets, or portion thereof, the sum of $10.00 per week is charged as assessable income.
Assessed income is then compared with the actual income received from the assets. The amount charged as income when assessing the loan will be:
- the assessed income or
- the actual income
whichever is the greater.
