Fannie Mae/Freddie Mac

If you want to keep your current home, rent it out, and use that rental income when purchasing a new home to live in, contact me. There are programs that will fit your needs!

Related Article Title: Fannie/Freddie – Using Rental Income on Exiting Property Question: If a client wants to rent out the property they are currently living in and needs to use that income in order to qualify for their new primary residence, how is this done? Answer: When converting a current primary residence to a rental [...]

2019-08-25T09:54:19-05:00August 26th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

For a Freddie Mac Loan, the Borrower must currently own a Primary Residence to use rental income to qualify when purchasing a new rental property in the current calendar year.

Related Article Title: Fannie/Freddie – Using Rental Income on Exiting Property Question: If a client wants to rent out the property they are currently living in and needs to use that income in order to qualify for their new primary residence, how is this done? Answer: When converting a current primary residence to a rental [...]

2019-08-25T09:51:41-05:00August 26th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

Did you know that mortgage lenders may allow known future income to be used to qualify you for a home? If you are facing this situation and think that you need to wait, contact me and let’s talk. We may have a solution for you.

Related Article Title: If a borrower has a new job, but does not have a non-contingent contract, will Fannie or Freddie allow that income? Answer: Both Fannie and Freddie allow for this, but your company has to hold the loan before selling to Fannie or Freddie until AFTER the borrower starts employment and you get [...]

2019-07-24T10:34:23-05:00July 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

Neither Fannie Mae or Freddie Mac address how a lender should handle a borrower who has a loan modification on their current residence and wants to buy a new residence. If this is your situation, contact me and let’s discuss your options before you try to sell your present home.

Related Article Title: What is the waiting period for a conventional purchase with a loan modification on the borrower’s current residence? Answer: There is no written or defined timeline from either agency (Fannie or Freddie). In fact, they do not address a modification except for a one that may be needed for construction-to-perm loan. It [...]

2019-07-24T10:37:39-05:00July 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|

You may not need to put off buying a new home if you are waiting for a new job to start, or you are expecting a raise. Let’s talk and I’ll be able to help you figure this out.

Related Article Title: If a borrower has a new job, but does not have a non-contingent contract, will Fannie or Freddie allow that income? Answer: Both Fannie and Freddie allow for this, but your company has to hold the loan before selling to Fannie or Freddie until AFTER the borrower starts employment and you get [...]

2019-07-24T10:25:39-05:00July 25th, 2019|Fannie Mae/Freddie Mac, Social Media Posts|