All Forum Posts by: Amit Pandey

Can you anyone advise as how the lender will calculate income and offset the PITIA if someone have shown all her personal financed properties in form 8825. Specially would like to know about how Freddie mac consider it. TIA

Thanks Andrew for your reply. My question is...if we want to submit the loan thru LP, then what Freddie Mac says about calculating the net rental income from form 8825 if all the properties are personally obligated in borrower's name. 

Thanks Chris for your reply but i just wanted to confirm what Freddie Mac says about calculating the rental income from 8825. As per my understanding the payment should be washed out as all the expenses are already mentioned in the expenses and then calculated a regular SE income.

@Andrew Postell .....Need a lill clarification:

If some one financed all the properties in his own name but showing it on form 8825 for taxes. Then how we should calculate the net rental income?

Lets say if the loan goes to FREDDIE MAC, then can we “wash” the PITIA out, then evaluate the
business return of the company that owns the REO and follows standard self-employed requirements?

All the properties are personally financed but shown in form 8825. Can we wash out PITIA from LOS and calc the net rental income as a regular SE income if we go thru FHLMC. As per UWM, they calculate the self employed income but at the same point putting the PITIA of all properties in the liability. Please advise.