If a client needs rental income from their departing residence to qualify for their new home, Fannie Mae requires a fully executed lease agreement.

Article Title: Fannie Mae – Departing Residence Lease Documentation:  Fannie Mae states that I only need a lease for a departing residence being rented, why is the borrower being asked to provide additional information? Answer: The selling guide allows the lender to use a lease agreement.  A lender can choose to add other requirements they […]

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