This week we have one of the most significant changes to hit the mortgage industry in years — and it directly affects any agent or buyer who is planning to rent out their current home to buy a new one or who is purchasing investment properties.
Fannie Mae just completely overhauled how rental income is calculated for qualifying purposes. And if your clients have not re-qualified under the new guidelines their pre-approval may no longer be accurate.
This week we are covering: ✅ Interest rate update — steady in the six and a half to seven range despite some volatility this week ✅ Fed watch — reports coming out this week that will determine whether the Fed raises rates again ✅ Fannie Mae's major overhaul of how rental income is calculated for qualifying borrowers ✅ The old policy vs the new policy — what changed and exactly why Fannie Mae made this move ✅ Departure residences — the biggest change and what it means for clients who want to rent their current home and buy a new one ✅ When you can still use a lease agreement — the very specific exceptions that remain ✅ The new six months reserve requirement for departure residences ✅ Short term rental income — the positive change most agents are completely missing ✅ DSCR loans — when it makes more sense to switch your client to this option instead ✅ The most important action step — have every relevant client re-qualify right now
If you have any clients who are planning to rent out their current home and purchase a new one — or any clients looking at investment properties — this episode is required watching before your next conversation with them.
This is brand new information and most agents and lenders do not even know about it yet.
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📞 Connect with Nikki Erickson at Kevnik Mortgage: 📱 Call or Text: 952-484-1584 📧 Email: nikki@kevnikgroup.com 📘 Facebook | TikTok | Instagram: @mortgagesfrommntoaz
00:00 Introduction – Week of September 6th and What Is Coming 00:30 Interest Rate Update – Steady in the Six and a Half to Seven Range Despite Volatility 01:30 Fed Watch – Will They Raise Rates Again and What Reports to Watch This Week 02:30 MAJOR CHANGE – Fannie Mae Overhauls How Rental Income Is Calculated 04:00 The Old Policy vs The New Policy – What Changed and Why 06:00 Departure Residences – The Biggest and Most Important Change 08:30 When You Can Still Use a Lease Agreement – The Key Exceptions 10:30 Six Months Reserves Now Required for Departure Residences 11:30 Short Term Rental Income – The Positive Change Most Agents Are Missing 13:00 DSCR Loans – When to Switch Your Client to This Option 14:30 Action Step – Have Your Clients Re-Qualify Under the New Rules 16:00 How to Reach Nikki Erickson at Kevnik Mortgage #realestate #lender #mortgagerates #mortgagerates #fanniemae
Now's The Time - no matter where you are, where you have been, or your current results - By becoming more aware and following a process, you can have whatever it is you truly desire!
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