Certified Mortgage Processor (NAMP®-CMP)

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A borrower is purchasing a duplex as an owner-occupied property. They will live in one unit and rent out the other. The appraiser determines the fair market rent for the second unit is $1,600 per month. How much of this rental income can typically be used for qualifying purposes?

$$1,600 $$800 $$1,200 $$0, as the property is not yet leased

Correct Answer:

$$1,200

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