You may have run across a borrower who is personally obligated to a mortgage (as indicated on a credit report) but reports the income through a business entity using form IRS forms 1065 or 1120S. FNMA guidelines B3-3.1-08 break down the process and requirements needed to get this right!
The key training points in this video are :
- What does FNMA B3-3.1-08 require from the seller
- What is the 8825 form
- What business use the 8825 form
- How to properly calculate the income or loss from the 8825
If you work with borrowers who have a plan to own and acquire rental properties, this is a must watch video for you. Learn who can qualify and who can’t to stand out as a mortgage leader in your market of savvy investment property landlords.