Using Roommate Income to Qualify

[Rick Albert]

Hey Bigger Pockets People,

If a borrower is buying a property and plans on using roommate income towards their DTI (Debt-to-Income), according to Home Ready you would need to prove it. How could a first time home buyer utilize this? I only see how this could be useful if you are refinancing a home you already own or buying the next one.

This is the pdf from Fannie Mae with more information: https://www.fanniemae.com/content/fact_sheet/homeready-boarder-accessory-unit-income.pdf

Any guidance would be helpful.

Thanks!

Rick Albert