Accessory Unit Income

FHA – Accessory Dwelling Unit Income: Can I use both the income from an ADU (Accessory Dwelling Unit) and the other unit on a 2-unit property?

Answer: First, you need to verify that this property is considered a 2-unit with an accessory dwelling unit (ADU) and not a 3-unit property. If it’s actually determined to be a 3-unit property, then yes you can use the rental income from the other units. If it is actually a 2-unit with an ADU you’ll [...]

2018-06-25T08:38:18-05:00June 24th, 2018|

Fannie Mae-HomeReady® FAQ’s – Updated January 24, 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae expanded their HomeReady® FAQ document to assist more lenders in using the program.  This is a great program to know and understand, so take the time to read through this update and the materials referenced. Rule Synopsis This document has 39 total questions. Fannie Mae has not updated [...]

2018-05-31T09:18:04-05:00March 9th, 2018|