Will home finance lenders allow legal/permitted “grow rooms” for marijuana? Unfortunately, because federal law still considers marijuana illegal, the normal federal outlets for home financing will not allow legal grow rooms. However, they will allow W2 income from the cannabis industry. If you are in the cannabis industry, let’s discuss your home financing options before you start looking for a home.
Related Article Title: Legal Marijuana Grow Room Reported on Appraisal Question: My client’s property is in California and they have converted a bedroom into a marijuana grow room. The appraisal states that there is a permit, and that income is not being derived from this. Will Fannie Mae or Freddie Mac accept this? Answer: I […]