On conventional loans; rental income from a client’s current home can be used to offset the payment on that mortgage, which makes it easier to qualify for their new mortgage.

Answer: If a client wants to keep their present home and buy a new one, they can use rental income to offset the debt on their old mortgage. Both Fannie Mae and Freddie Mac are exactly alike in both scenarios. If vacating the old home and renting out, you can use lease agreements: take 75% […]

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