FHA – 2-Unit-Rental Income: Can the borrower use the rental income for the non-owner occupied unit to qualify for the purchase, if the unit is currently not under lease?
Answer: Yes. The rental income for the other unit can be used for qualifying. See the highlighted portion of the guideline below to see how it’s calculated. Reference: (I) Rental Income (TOTAL) (1) Definition: Rental Income refers to income received or to be received from the subject Property or other real estate holdings. (2) Rental Income Received from […]