Fannie Mae announced several incremental initiatives to finance affordable housing on Long Island.

One strategy is to allow homeowners to use rental income on apartments attached to their homes to qualify for a mortgage. Fannie Mae already counts rent on the second unit of an owner-occupied, two-unit house. The change will eliminate a fine distinction and allow more people to qualify.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.