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Short-Term Rental Income Calculations Changed

Thursday, August 10, 2017

Freddie Mac has made some changes to the way in which lenders must handle rental income.  The changes are primarily aimed at determining the stability of that income, especially when it is short term and does not involve a lease.  The changes apply to loans with settlement dates on or after February 9, 2018, but sellers can, if they wish, implement them in their entirety immediately.

The company says the changes to rental income requirements reflect changes in the rental market such as short-term rental income and are intended to support the determination of stability, calculation of rental income, and a reasonable expectation that rental income will continue.

 

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