source:
  type: guide
  id: fnma-sel-b3-4.3-12
  authority: Fannie Mae Selling Guide B3-4.3-12 — Rent-Related Credits
  description: Fannie Mae Selling Guide B3-4.3-12 — Rent-Related Credits.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-4.3-12-full
  canonical_id: fnma-sel-b3-4.3-12-full
  section: Fannie Mae Selling Guide B3-4.3-12 — Rent-Related Credits
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-4.3-12 — Rent-Related Credits
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-4.3-12, Rent-Related Credits (08/07/2024) Introduction This
      topic contains information on diﬀerent types of rent-related credits, including:
      Rent Credit with an Option to Purchase Rent-Back Credit Rent Credit with an
      Option to Purchase Rent credit with an option to purchase is the portion of
      rental payments (also referred to as lease payments) paid by the borrower that
      can be credited towards the down payment or minimum borrower contribution under
      a documented rental or purchase agreement. Borrowers are not required to make
      a minimum borrower contribution from their own funds for the rental payments
      to be credited toward the down payment. The rent credit is not considered an
      interested party contribution. The rent credit from the seller for the down
      payment is determined by calculating the diﬀerence between the market rent and
      the actual rent paid by the borrower. The market rent is determined by the appraiser
      in the appraisal for the subject property and the credit may be no more than
      the diﬀerence between the market rent and the actual rent paid. Documentation
      Requirements The lender must obtain the following documentation: A copy of the
      rental/lease with an option to purchase agreement that evidences the following:
      an original term of at least 12 months, the total number of months of the agreement,
      the monthly rental amount, and the amount of the monthly rent credit. Copies
      of the borrower''s canceled checks, bank statements, money order receipts or
      other reasonable methods evidencing the rental payments over the term of the
      agreement. The documentation must clearly indicate the payee and the amount
      being paid. The appraisal of the subject property reﬂecting the market rent
      amount. Published May 6, 2026 439 Rent-Back Credit A rent-back credit is an
      amount paid by the property seller to the borrower in exchange for allowing
      the seller to stay in the home for a speciﬁed period of time after closing.
      While rent-back credit to the borrower paid by the seller is permissible as
      part of the sale; it cannot be used as an eligible source of funds for closing
      costs, down payment, or reserves when qualifying the borrower. A rent-back credit
      may appear on the Closing Disclosure as a credit to the borrower. In all cases,
      the lender must underwrite the loan without any consideration of the rent-back
      credit (e.g., it must not be entered in the DU loan application data) and must
      document that the borrower has suﬃcient funds for the transaction from eligible
      sources. Note: For loans secured by the borrower''s principal residence, the
      borrower must continue to meet any occupancy requirements as outlined in the
      security instrument. Recent Related Announcements The table below provides references
      to recently issued Announcements that are related to this topic. Announcements
      Issue Date Announcement SEL-2024-05 August 07, 2024'
  judgment: false
