Tag: 100-mile rule

FHA –100 Mile Rule – Does the 100 Mile rule apply to an FHA applicant when the home they are vacating has conventional financing?

Answer: Yes, the “100-mile” rule applies to all situations regarding rental income from a retained residence. Reference: 4000.1, II, A, 4, c, xii, (I) (3) Rental Income from Other Real Estate Holdings (TOTAL) (a) Standard Rental Income from other real estate holdings may be considered Effective Income if the documentation requirements listed below are met. If Rental Income is being derived from the Property being vacated […]

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