How do you make sure your rental income for PURCHASE or Refinance will be accepted by DU?
This Article Shows you how to make DU accept RENTAL INCOME for a PURCAHSED/Fianaced Property or REO Property
Subject Property with Rental Income
Start in the 1003, Loan & Property Tab:
1) Even if the property is a Primary residence, select "Investment" to show the Rental Income Tab.
2) Enter the Rental Income.
REO Property with Rental Income
Start in the 1003, Real Estate Tab:
For Properties being retained as Investment and generating income to be included on DU
1) Select the usage type: Investment, Primary or Second Home.
2) Select Status as "Retain" as you are keeping the property
3) Select Intended Occupancy to be "Investment"
4) Enter the Monthly Rental and Net Monthly Rental Income
Desktop Underwriting Results (DU - AUS)
When running DU, your income will show in Line 38 of DU results for Income.