Fannie Mae/Freddie Mac

If a client is exiting a property and wants to use the rental income from that property for their new home, but they do not have a lease, there may be options depending on the strength of the client’s overall financial situation.

Related Article Title: Fannie Mae and Freddie Mac – Rental Income – Exiting Property:  My client is moving to another state and needs the rental income on his exiting property. Will either agency accept rental income on an existing primary residence when there is no lease in place? [Rental Income Requirements Chart] Answer: Great question. [...]

2019-04-21T18:20:13-05:00April 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

Did you know that if a client has student loans on an income-based repayment plan, and the payment is $0, the lender may use that in qualifying the borrower? For more fun facts sign up for our Student Loan Lunch & Learn!

Related Article Title:  Fannie Mae & Freddie Mac – Student Loans – IBC:  What payment is used for Fannie & Freddie for an income-based repayment [IBC] student loan?  [Student Loan Chart – Student Loan Lunch & Learn] Answer: Fannie Mae B3-6-05 Student Loans If a monthly student loan payment is provided on the credit report, the [...]

2019-04-21T18:03:40-05:00April 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

Fannie Mae and Freddie Mac – Rental Income – Exiting Property: My client is moving to another state and needs the rental income on his exiting property. Will either agency accept rental income on an existing primary residence when there is no lease in place? [Rental Income Requirements Chart]

Answer: Great question. This actually happens a lot. There really is no real specific guidance in the selling guides for Fannie Mae (and Freddie Mac is more restrictive) other than to state that the income could be used as long as the lender provides justification to use the income. They leave it to the lender [...]

2019-04-19T16:17:52-05:00April 24th, 2019|

Fannie Mae & Freddie Mac – Student Loans – IBC: What payment is used for Fannie & Freddie for an income-based repayment [IBC] student loan? [Student Loan Chart – Student Loan Lunch & Learn]

Answer: Fannie Mae B3-6-05 Student Loans If a monthly student loan payment is provided on the credit report, the lender may use that amount for qualifying purposes. If the credit report does not reflect the correct monthly payment, the lender may use the monthly payment that is on the student loan documentation (the most recent student [...]

2019-04-19T15:40:38-05:00April 24th, 2019|

Did you know that if we can verify that someone else pays a debt on your behalf for at least 12 months, we do not need to count that debt against you when qualifying for a mortgage? Props to the Parents Paying Back Your Student Loans!

Related Article Title: Fannie Mae & Freddie Mac – Business Debt Guaranteed by Borrower: Do I have to count a business debt in the DTI for a loan guaranteed by my applicant but paid for by his company? Debts Paid by Others Chart. Answer: This is something that originators come by quite often. If the [...]

2019-03-22T11:38:46-05:00March 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|