Tag: Per Diem

Fannie Mae’s Top Trending Questions – Dated June 22, 2020

Written by: Lloyd Rutherford, Staff Writer If there is a trending question with the agencies, then this means that multiple people are asking it.  The trending FAQs is an excellent way to quickly stay up to date and learn new things. Rule Synopsis: Fannie Mae updated their top trending questions. There are 24 questions and […]

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Per Diem Used as Income on an FHA Loan

Question: Are there any circumstances where FHA will allow Per Diem income to be used? Answer: Unfortunately, FHA does not consider per diem payments as income, nor does the IRS. They are considered a reimbursement to cover additional expenses incurred by an employee, not actual income to the employee that is available as repayment income for monthly liabilities and […]

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Fannie Mae & FHA – Per Diem Income: Can per diem income be used to qualify a borrower?

Answer:  FHA FHA does not consider per diem payments as income, nor does the IRS – which is why it is not shown on the W2.  They are considered a reimbursement to cover additional expenses incurred by an employee, not actual income to the employee that is available as repayment income for monthly liabilities and housing […]

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