Can a personal loan for house count as HA

by Mark
(Bessemer City, NC)

My in laws have offered to give us the money for a house as a personal loan. They wanted to offer this to us as an interest free loan that we would pay back. Would I be able to count payments to them as HA. If so how would I have to document that in order to do so?

Comments for Can a personal loan for house count as HA

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May 20, 2015
Properly approved HA
by: Lewis in NC

The church's properly approved housing allowance does not put limits on how you finance your house as a minister. To document this house expense, one would sign a written promissory note to your in-laws, including all the terms of the loan. In-laws would write receipts for all the payments you make to them which you would keep for proof of housing expense. Since Housing Allowances are approved a year in advance, you would have to know what you are planning to pay back for that year when requesting the allowance.

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