source:
  type: guide
  id: fnma-sel-b3-3.4-04
  authority: Fannie Mae Selling Guide B3-3.4-04 — Boarder Income
  description: Fannie Mae Selling Guide B3-3.4-04 — Boarder Income.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-3.4-04-full
  canonical_id: fnma-sel-b3-3.4-04-full
  section: Fannie Mae Selling Guide B3-3.4-04 — Boarder Income
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-3.4-04 — Boarder Income
    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: 'B3-3.4-04, Boarder Income (03/04/2026) The following table provides
      requirements for boarder income. Criteria Requirements Eligibility Income from
      boarders residing in the borrower’s principal residence or second home is not
      considered acceptable stable income with the exception of the following: • When
      a borrower with disabilities receives rental income from a live-in personal
      assistant, whether or not that individual is a relative of the borrower, the
      rental payments can be considered as acceptable stable income in an amount up
      to 30% of the total gross income that is used to qualify the borrower for the
      mortgage loan. Personal assistants typically are paid by Medicaid Waiver funds
      and include room and board, from which rental payments are made to the borrower.
      • The HomeReady mortgage eligibility requirements include an additional exception.
      See Chapter B5-6, HomeReady Mortgage. Documentation The lender must obtain:
      • the boarder''s history of shared residency (such as a copy of a driver''s
      license, bills, bank statements, or W-2 forms) that shows the boarder''s address
      as being the same as the borrower''s address, and • receipt of income for the
      most recent 12 months using sources including, but not limited to: ⚬ bank statements
      ⚬ cancelled checks, or ⚬ evidence of other electronic receipt of payments. Income
      History • A minimum of 12-month history is required. • The payment history must
      demonstrate the stability of the income, as reﬂected in the receipt of full,
      regular, and timely payments. Income Continuance Lenders are not required to
      verify continuance unless they have reason to believe the income may not continue.
      Published May 6, 2026 339 Criteria Requirements Determination of Qualifying
      Income The monthly income amount as documented above may be used as qualifying
      income. Recent Related Announcements The table below provides references to
      recently issued Announcements related to this topic. Announcement Issue Date
      Announcement SEL-2026-02 March 04, 2026'
  judgment: false
