Rental income from a departing residence can be used as income to qualify for a new home. There are some details involved so call me 1st!
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Answer: [tweet-start]FHA has guidelines to allow a borrower to use departing residence income to qualify for a new home. Call me 1st-Details Involved![tweet-end] The information you need is located in the FHA 4000.1 Handbook and is highlighted below. Reference: 4000.1, II, A, 4, c, xii, (I) (3) Rental Income from Other Real Estate Holdings (TOTAL) […]