09/08/2026
Big one if you’re buying a new house and keeping your old one as a rental.
Fannie Mae used to require a signed lease before that rental income counted for anything. Which was annoying because most people don’t have a tenant lined up until they’re closer to closing.
That’s changing. They’re moving to market rent instead, basically what an appraiser says the place could rent for. No lease required to get started.
Still some guardrails. Less than 12 months of landlord experience, that income can only offset your payment, not add to your income. And reserves matter more now too.
Mandatory November 1, but some lenders are already doing it. If you’re buying before then, ask your lender which version they’re using.
DM DEPARTING if you want the real breakdown for your situation.
