2nd Calculation - Rents
B3. Total Net Rental Income
Net Rental Income
Ratio not to exceed 100%:
Per ML 11-11, the self-sufficiency test applies in its entirety to both refinance and purchase transactions.
Borrower must have 3 months' PITI reserves after closing from own funds and CANNOT be from a gift.
Maximum mortgage is limited so that the ratio of the monthly mortgage payment pided by the monthly.
Net rental income does not exceed 100%.