Did You Know???

Did You Know???

Aaron Herstein Aaron Herstein

Aaron Herstein

Branch Manager @ Arbor Financial Group | NMLS #236669

发布日期: 2016年6月30日
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One of the requirements for second homes is that the property may not be a "rental" property." If the borrower is refinancing a second home and reports rental income from the subject property, can the transaction be eligible as a "second" home?

YES, as long as rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered "rental property" and the loan is eligible as a second home, if all of the other Second Home Requirements in the Fannie Mae Selling Guide (ref:B2-1-01: Occupancy Types) are met.

Pass on the GREAT NEWS!!!

Aaron Herstein NMLS 119406 /  Sierra Pacific Mortgage 919-614-5626

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