Tag: Unsold home

Fannie Mae – Omitting PITI on Unsold Home: Can I omit the current PITI on a home that is not sold/closed, but one on which we have an executed sales contract?

Answer: Yes, please see the reference below. Reference: B3-6-06, Qualifying Impact of Other Real Estate Owned (06/30/2015) Current Principal Residence Pending Sale If the borrower’s current principal residence is pending sale, but the transaction will not close with title transfer to the new owner prior to the subject transaction, and the borrower is purchasing a […]

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