Counting Rental Income on New Mortgage

Counting rental income for properties already owned differs from what the average borrower assumes.  In fact, many believe counting income from a rental property is as easy as plugging in the rent a  received for the property.  Not quite, but you knew that because this is the mortgage industry and nothing is that simple! Including Rental Income on Home Loan Fannie Mae issued guidance in early 2013 regarding what rental income borrowers can use for existing rental property when applying for a … [Read more...]