Tag: relocation

When to Include Formerly Employed Spouse in Income Limits

Question: My client took a job promotion in another state and he and his wife will be moving there.  The wife is currently employed but may or may not work in their new location. Will USDA require us to add her income when considering county income limits? Answer: USDA RD regulation HB-1-3555 Chapter 9 states […]

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Multiple FHA Loans Due to Relocation

Question: In order to obtain another FHA loan, the guidelines state “relocation” as an allowable reason.  Does this mean employment relocation or any type of relocation? Answer: The relocation must be for an employment-related reason.  The phrase “relocating or relocated” is to indicate that the borrower is eligible even if the location of employment hasn’t […]

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Verifying Foreign Income for Dual Citizenship U.S. Resident

Question: I have a client who has dual citizenship as a US Citizen and Canadian Citizen.  They previously lived in the States, moved to Canada and are now relocating back to the States.  The client is able to keep her job from her Canadian employer because she is permitted to work remotely.  The issue is […]

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Relocating and VA Occupancy Rules

Question: My VA client works for the government and is being transferred to another location next spring. They would like to buy a home in their new town in advance of the transfer. How far in advance of the new job starting, can they can execute that purchase? Answer: VA has a unique perspective on […]

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Freddie Mac Selling Guide Updates – Bulletin 2019-17 – Dated August 7, 2019

Written by: Lloyd Rutherford, Staff Writer This Freddie Mac update offers some great nuggets of education and sales opportunities in your market. Read through this update to find out more. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The […]

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