Tag: rental income smaller unit

FHA – Qualifying Rental Income on 2-Unit Property: Does FHA specify that the smaller unit must be used when qualifying a borrower with rental income? Chart-Rental Income Requirements – All Agencies

Answer: No. FHA does not require that the smaller unit be used for qualifying purposes. That said, expect an underwriter to review the practicality of the borrower using the smaller unit as their primary residence. For example: If the borrower is the only occupant, and the units are a 1 bedroom and a 3 bedroom, […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top