Did you buy a rental home in the last 45 days? Are you now applying for another home loan? Fannie Mae has a new rule for how the rent from that new home counts. It came out September 2, 2026. Lenders can use it today. By November 1, 2026, every lender must use it. The short version: a signed lease will not work. The lender has to use market rent instead.
Last updated: September 24, 2026
Why a New Rental Is Treated Differently
A home you bought last month has no tax return history. There is no proof yet of rent hitting your bank account. Fannie Mae used to let each lender decide what to do. Now there is one rule for any rental home with one to four units that you bought within 45 days of your new loan.
As of Q3 2026 (September 2026): Under Fannie Mae Selling Guide B3-3.1-08 as updated by Announcement SEL-2026-08 (Sept. 2, 2026; mandatory for applications on or after Nov. 1, 2026), lease agreements are not accepted for a departing residence or for a rental bought within 45 days of the new loan; rent is set by an appraisal with market rent, Form 1007, or a 3-comparable market analysis; 75% of market rent (50% for short-term rentals) is used; and a borrower with under 12 months of landlord history needs 6 months of PITIA reserves on the vacated home.
No Lease Agreements
This is the part that surprises people. Even if you already have a renter and a signed lease, the lender cannot use it. Fannie Mae says leases are not allowed for a rental home bought within 45 days of your new loan.
Instead, the lender sets the rent one of three ways:
- A full appraisal that includes market rent. The appraisal from when you bought the rental can be reused.
- An appraiser’s rent report for a one-unit home.
- A market study using at least three similar rentals nearby, for homes with two to four units.
The Math
- Take 75% of the monthly market rent. The other 25% covers empty months and repairs.
- Subtract the full monthly payment on that home (loan, taxes, insurance, and any HOA dues).
If the answer is positive, it only cancels out that home’s payment. It is not added to your income. If the answer is negative, the shortfall counts as a monthly bill against you on the new loan.
Every file is different. The rent, your payment, and how many homes you own all change the answer. Run your real numbers with us below.
Source: JD.Mortgage Team at PRMG, Just Bought a Rental? How Fannie Mae Counts Its Income on Your Next Loan, updated September 2026, https://jd.mortgage/rental-income-new-investment-property/
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.
What Else the Lender Needs
- Your current housing payment. The lender must know what you pay for the place you live now before any rent can count.
- Lease rules got stricter everywhere. For rentals that do qualify with a lease, a new lease now needs a term of at least six months. It cannot be with a family member or anyone tied to the deal. Rent must be paid in U.S. dollars. And the lender needs two months of bank statements showing the rent coming in, or a copy of the security deposit and first month’s rent with proof it was deposited.
- Landlord experience still matters. Rent can only add to your income if you have been a landlord for at least 12 months. If not, rent can cancel out a payment but cannot add to your income.
Buying Several Rentals Close Together
If you buy two or three rentals in a short time, this rule hits every one of them. If you are growing fast, a DSCR loan may work better. It qualifies you on the home’s rent alone, with no tax returns or pay stubs. We look at both before you pick one.
Frequently Asked Questions
Can I use a lease on a rental I just bought to get another loan?
No. If you bought the rental within 45 days of your new loan, Fannie Mae does not allow a lease. The lender must use an appraisal with market rent, an appraiser’s rent report, or a market study with three similar rentals.
How much of the rent counts?
75% of the market rent, minus the home’s full monthly payment. The other 25% covers empty months and repairs.
What if the number is positive?
It only cancels out that home’s payment. It is not added to your income.
What if the number is negative?
The shortfall counts as a monthly bill against you on the new loan.
Can the lender reuse the appraisal from when I bought the rental?
Yes. Fannie Mae allows the appraisal from that purchase, as long as it includes market rent.
When does the 45-day rule start?
Fannie Mae published it September 2, 2026 and told lenders to use it right away. It is required on every loan application dated November 1, 2026 or later.