Tag: Capital Gains Income

Fannie Mae – Use of Rental Income & Capital Gains: Can a borrower be qualified using both rental income and a 2-year history of capital gains income earned from the sale of rental properties?

Answer: Yes, just follow the requirements for each income requirement under Rental Income and “Other Income” for Capital Gains Income from the selling guide. See below. Reference: B3-3.1-09, Other Sources of Income (07/25/2017) Introduction This topic provides information on documenting and qualifying a borrower’s income from sources other than wages and salaries, including: Documentation Requirements for Current […]

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Fannie Mae – Continuation of Income – What types of income require documenting a 3-yr. continuance and which ones do not? [NEW MTP – Documenting Continuance of Income]

Answer: Fannie Mae makes it easy to determine which types of income require documenting 3 years of continuance vs. income that does not require this documentation. Reference: B3-3.1-01, General Income Information (7/25/2017) Continuity of Income A key driver of successful homeownership is confidence that all income used in qualifying the borrower will continue to be […]

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