Freddie Mac Revises Rental Income Requirements
Mortgage giant Freddie Mac has made revisions to their rental income requirements and guidance. The rental income will be in effect for settlement dates on and after February 9, 2018, according to Freddie Mac's recent guide bulletin.
The Revisions Include:
Proactively address evolving housing industry trends in the rental market such as short-term rental income (e.g., rental income typically derived from sources where a lease is not utilized)
Support successful and sustainable homeownership through responsible lending practices
Include expanded requirements, additional specificity and guidance to support the determination of stability, reasonable expectation of continuance and calculation of rental income, resulting in continued support of purchase certainty
- Freddie Mac
All additional requirements and specific guidelines can be found in the latest Freddie Mac Guide Bulletin. Click on the image above to access the Guide Bulletin.
