FHA Unveils Surprising Homebuyer Assistance: ADU Rental Income

HUD, the overseer of FHA, announced that it now allows FHA homebuyers to use ADU rental income to qualify for the loan. A White House press release noted, among other housing actions, that the U.S. Department of Housing and Urban Development (HUD) published new Accessory Dwelling Unit (ADU) guidelines as of October 16, 2023. Previously,

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Fannie Mae 5% down conventional 2-4 unit

Fannie Mae Rolls Out 5% Down Multifamily Home Loans

It’s official: As of November 20, 2023, Fannie Mae allows 5% down payments for owner-occupied 2-, 3-, and 4-unit (multifamily) homes. This is a surprising reversal of the years-long policy of requiring 15-25% down for duplexes, triplexes, and four-plexes. It will be a major benefit to those looking to purchase a multifamily home to live

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Fannie Mae 1 year self employed

Fannie Mae Updates Guidelines For One Year of Self-Employment

Contrary to popular belief, Fannie Mae permits lenders to approve conventional loans for applicants with just one year of self-employment.  And the agency just updated its guidelines to be much more specific about documentation needed. If you’ve been denied before, you might now be approved, thanks to clarification from Fannie Mae. See if the new

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