Freddie Mac expands guidelines to allow rental income from ADUs

[Kyle Deutschmann]

For all you potential (and current) house-hackers out there - Freddie Mac announced recently that they are expanding their lending guidelines for conventional mortgages to allow rental income from Accessory Dwelling Units (ADUs) for both purchase mortgages and no-cash-out refinances for single family residences.

"Previously, the loan had to be made through Home Possible... or the loan applicant had to have a disability and a live-in aide who rented the ADU. Now more types of one-unit ADU rental income on a single-family property used as a primary residence could be used to qualify for a purchase or no-cash-out refinance."

"However... the new rules around ADU financing still have guardrails" so make sure to talk to your trusted Mortgage Advisor to see if this could be an option for you! 

https://www.nationalmortgagene...