Appraisal now required to qualify income from Rental

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Lender’s will soon be requiring

 

  • Converting primary residence to rental: AVM is no longer acceptable; value must be established by at least a 2055 exterior-only inspection, dated no more than 60 days prior to the Note Date (must verify 30% equity in order to use rental income)

 

 

Best regards,

Sunil

 

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