Category: Fannie Mae

Student Loans & Buying a Home? If you are like a lot of folks, you may be wondering how home lenders count your student loan payments when they are deferred during COVID.  Every situation can be a little different.  Just PM me with questions and I’m happy to help!

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Student Loans & Buying a Home? If you are like a lot of folks, you may be wondering how home lenders count your student loan payments when they are deferred during COVID.  Every situation can be a little different.  Just PM me with questions and I’m happy to help!

Related Article Title: Calculating Student Loan Payments in Forbearance & Under Forgiveness Question: My client presently has their federal student loans in Forbearance due to COVID, plus they are in a forgiveness program with a public service program.  How do I calculate a payment for qualifying purposes? Answer: Fannie Mae addresses this situation in the […]

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Maximum Rental Periods & Second Homes

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Question: My client owns a second home and rents it out minimally throughout the year.  I do not need this income to qualify the borrower.  If they have any rental income on their tax returns, is this still considered a second home? Answer: Fannie Mae’s second home requirements state “If the lender identifies rental income […]

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Calculating Student Loan Payments in Forbearance & Under Forgiveness

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Question: My client presently has their federal student loans in Forbearance due to COVID, plus they are in a forgiveness program with a public service program.  How do I calculate a payment for qualifying purposes? Answer: Fannie Mae addresses this situation in the COVID-19 FAQs that we have linked under supporting resources and under “Charts […]

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Seasonal Income Workers! Did you know that unemployment income is considered part of your qualifying income as seasonal worker, IF this income is associated with seasonal layoffs, is likely to continue and has been reported on your tax returns? Curious as to how much you can afford when buying a home? Let’s talk!

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Seasonal Income Workers! Did you know that unemployment income is considered part of your qualifying income as seasonal worker, IF this income is associated with seasonal layoffs, is likely to continue and has been reported on your tax returns? Curious as to how much you can afford when buying a home? Let’s talk!

Related Article Title: Fannie Mae Selling Guide Updates – SEL-2021-01 – Dated February 3, 2021 Written by: Lloyd Rutherford, Staff Writer UPDATED – Mortgage Currentcy Income Analyzer Charts – Seasonal Income – All Agencies & Part-Time Secondary Income – All Agencies The Fannie Mae selling guide updates are a must read, as they contain the […]

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Work Warriors – Important News!  You hardworking folks with multiple jobs just received some great news if you want to buy a home.  The home financing guidelines have become more flexible to allow you to use income from multiple jobs to finance a home.  Call me to find out the details and how we may be able to help you finance your dream!

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Work Warriors – Important News!  You hardworking folks with multiple jobs just received some great news if you want to buy a home.  The home financing guidelines have become more flexible to allow you to use income from multiple jobs to finance a home.  Call me to find out the details and how we may be able to help you finance your dream!

Related Article Title: Fannie Mae Selling Guide Updates – SEL-2021-01 – Dated February 3, 2021 Written by: Lloyd Rutherford, Staff Writer UPDATED – Mortgage Currentcy Income Analyzer Charts – Seasonal Income – All Agencies & Part-Time Secondary Income – All Agencies The Fannie Mae selling guide updates are a must read, as they contain the […]

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