The Department of Housing and Urban Development (HUD) recently updated their guidelines to allow income from Accessory Dwelling Units (ADUs) to be used in qualifying senior borrowers for an FHA-insured HECM.
This is another great improvement of enhancing the wealth-building potential of homeownership for senior borrowers. Read the full details from HUD here.
If you’re looking for insight on the latest reverse market trends or have a loan scenario you want to run by us, reach out to your Plaza Account Executive or email reverse@plazahomemortgage.com to gain a deeper understanding of this valuable financial tool.
