Departing residence rental income
Renting out the home you're leaving can help—but departing-residence rules are stricter than ordinary investment-property rules.
Fannie
Fannie places departing residences in their own rental-income category. A lease agreement is not permitted as the ordinary standalone method for determining qualifying rental income under the general lease rule; the departing-residence section controls the documentation and treatment.
Why the special treatment?
The borrower is converting a current primary residence while taking on a new housing obligation, so the agency wants evidence supporting that the rental arrangement and resulting cash flow are credible.
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.