Mortgage Navigator • Conventional • Rental Income
Boarder income
Rent from someone sharing the borrower's home is not treated the same as rent from a separate unit.
Standard Fannie rule
Boarder income from someone living in the borrower's principal residence or second home is generally not acceptable stable qualifying income.
Exceptions
Fannie provides an exception for certain borrowers with disabilities receiving rent from a live-in personal assistant, subject to documentation and a 30% cap. HomeReady also has a broader boarder-income exception with its own requirements.
Agency Difference: Freddie/Home Possible has its own rules for boarder income. This is another area where an affordable-product comparison can change usable income.
Official guide baseline
Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide
Rental-income rules are transaction-, property-, ownership-history- and management-experience-specific. Current guide controls.