Tag: rent credits

Fannie Mae and FHA – Lease to Buy Credit – How can a client use the rent paid on a lease to buy an option agreement for a down payment?

Answer: You will need: Evidence that the borrower was paying over market rents, and only that amount will be allowed.  For example:  Homes in an area rent out for $800/month based on a rent analysis (determined by the appraiser), but your borrower paid $1,000/month, or $200 over market rents. A copy of the rental/purchase agreement […]

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