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. [...]