The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans for 2018. The limits are increasing in 2018. The 2018 loan limits will be applied to Fannie Mae Desktop Underwriter the weekend of December 9, 2017. To use the new, higher loan limits you loan must have a Funding Date of 1/2/2017 or later. This is for Conventional loans only.
When can I use business use of home as effective income?
* FHA – Allowed
* VA- Not Allowed
* USDA- Not Allowed
* FNMA and FHLMC- Allows us to add to the borrower’s income just like depreciation.
Let me know if I can be of any help to you in 2018!
By Andrew Augustyniak Licensed Mortgage Loan Originator
Peoples Mortgage Co