Tag: Qualifying Income

Median Income and HomeReady® – What is Mandatory Income for Married Borrowers?

Question: My clients are married, and one spouse can qualify for the loan on their own.  Do I need to include their spouse, or can I leave them off the loan so that they meet the maximum median income requirements for a HomeReady® loan? Answer: The agencies leave a huge loophole for lenders to take […]

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Freddie Mac-Bulletin 2018-1 – Dated January 31, 2018-May Implement Immediately-Must Implement by November 30, 2018

By: Lloyd Rutherford, Staff Writer This is an important update if you work with clients using rental income.  Previous bulletins issued referred to a must implement date that has now been changed. Read this update to understand how it may affect your clients and the investors you use. Rule Synopsis: Freddie Mac issues bulletin 2018-1 […]

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