Can we use ADU or Boarder income?
In general, this type of income cannot be used when the subject property is a Single-Family Primary Residence.
When can it be used?
HomeReady is the only program that can allow these types of income, however all HomeReady requirements must be met to utilize the program. HomeReady only allows Purchase or Rate/Term transactions, cash out is not allowed.
Contact your Sr. Mortgage Specialist today for details and to setup a consultation!