Short answer
Yes, with limits. Under Fannie Mae's rules updated in September 2026, the lender estimates the home's market rent from an appraisal or a rent analysis, counts 75% of it, and uses the result to offset that home's own payment. A lease on the home you're leaving isn't accepted for this. Without a year of landlord experience, you also need six months of reserves for that home.
How does the lender count the rent?
Fannie Mae calls the home you're moving out of a departing residence. The lender takes its market rent, from a full appraisal with a rent schedule (Form 1007) or a market rent analysis with at least three comparable rentals, and multiplies it by 75%. Then it subtracts the home's full payment.
If the result is positive, it can offset that payment but doesn't add to your income. If it's negative, the difference counts as a monthly debt.
Can I just sign a lease with a tenant?
Not for this purpose. Fannie Mae's September 2026 update says lease agreements aren't permitted for a departing residence. The rent comes from the appraisal or market analysis instead. You can still rent the home; the lease just isn't what the lender uses to qualify you.
Do I need extra reserves?
If you have less than 12 months of property management experience, the lender has to verify six months of reserves for the home you're leaving, on top of any other reserves. See how much in reserves you need.
Using an FHA loan for the next home?
FHA has its own rules for keeping your current home; see can you have two FHA loans at once.
What if I'm selling instead?
If your current home is under contract and any financing contingency on the sale has been cleared, the lender may not have to count its payment. Otherwise both payments count. The buying before you sell guide covers the options.
Sources
- Fannie Mae Selling Guide B3-3.8-05, Rental Income from Non-Subject Property: Departing Residence (09/02/2026)
- Fannie Mae Selling Guide B3-6-06, Qualifying Impact of Other Real Estate Owned (09/02/2026)
Checked November 2, 2026. Rules and dates change, so confirm current details before you rely on them.
General information only, not tax or legal advice. Program availability, eligibility and terms vary by lender and are subject to change and to underwriting approval. Not a commitment to lend.