09/04/2026
Hey guys, F***y me updated their guidelines around departing principal residences. Here’s why it’s important and what you should know! 
Fannie Mae quietly changed a rule, and a lot of "stuck" homeowners are going to want to hear about it.
It's now much simpler to keep your current home, turn it into a rental, and still qualify to buy your next one.
No tenant lined up before closing.
No signed lease required.
No deposit or first month's rent collected in advance.
Here's why that matters.
So many homeowners are sitting on 3% and 4% rates they'll probably never see again. They've outgrown the house, but selling means giving up that payment. So the smart play becomes:
→ Keep the current home
→ Rent it out
→ Buy the next one
The problem was always the qualifying. Under the old guidelines, counting rent from the home you were leaving typically meant having a signed 12-month lease, a deposit collected, and first month's rent in hand — all timed around a closing date you might not even have yet. For most families, that timing problem killed the whole plan.
Effective 9/2/2026, for an eligible departing residence, we can use documented market rent instead:
→ We document what your home would rent for (an appraisal rent schedule, or market tools like Zillow, Redfin, or an MLS pull with at least three comparable rentals)
→ 75% of that number counts
→ That income offsets your existing mortgage payment for qualifying
Quick example:
Your home would rent for $2,400/month. 75% of that is $1,800. If your current payment is $1,900, nearly the entire payment is offset for qualifying — and you never had to find a tenant before closing.
If you've been telling yourself you're locked in by your rate, the math just changed. I'm happy to run your numbers and show you what's possible.
David Bronson
People's Choice Mortgage Group — Chico, CA
NMLS #275730 | CA DRE #01405631
