Tag: two unit

Using Rental Income on a 2 Unit as First Time Homebuyers

Question: My client is a first-time homebuyer with great credit, but no history of receiving rental income or property management experience.  Are we able to use rental income for the second unit to qualify? MC Chart – Rental Income Answer: It all depends on whether or not the borrower has a current housing expense (that […]

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Non-Occupying Co-Borrowers on a 2-Unit

Question: Will Fannie Mae and Freddie Mac allow non-occupying co-borrowers on a 2-unit?  MC Chart – Non-Occupying Co-Borrowers Answer: Yes, that is allowed. Supporting Resource: MC Chart – Non-Occupying Co-Borrowers [Article Published in Question & Answer Issue – September 25, 2020] Copyright © 2020 – Mortgage Currentcy – All Rights Reserved

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