Tag: Seasonal Income

Fannie Mae Selling Guide Updates – SEL-2021-01 – Dated February 3, 2021

Written by: Lloyd Rutherford, Staff Writer UPDATED – Mortgage Currentcy Income Analyzer Charts – Seasonal Income – All Agencies & Part-Time Secondary Income – All Agencies The Fannie Mae selling guide updates are a must read, as they contain the rule changes to guidelines each month.  This quick read allows you to update your knowledge […]

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Fannie Mae – Use of Seasonal Income: Can seasonal income be used to qualify for a loan?

Answer: There are two types of secondary income – a true Second Job, where the income should be uninterrupted, and Seasonal Income, which would be seasonal based on a borrower who earns this income in their “time off” during the year.  For instance, teachers and school bus drivers may have several months where they pick […]

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