Fort Lauderdale, FL · Member since 2019 · 94 posts · 16 votes
Prior to COVID-19, conventional loan lenders use 70% or 75% potential rental income of subject property as income when calculating DTI. I am told by 2 lenders that they no longer consider future income as income during underwriting because of COVID-19. Is this change from freddie mac fannie mae or just the lenders themselves? Do you know any national lenders still use this income in DTI?
Another question is which lenders use vested RSU (Restricted Stock Unit) as income? I know better.com is one.
@Weng L. Fifth Third bank does count RSU income following standard guidelines from Fannie Mae. If you have two years landlord history and subject property is rented already, the lender will still count 75% of income with proof of rental agreement.