Tag: <span>#RentalIncome</span>

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INVESTMENT PROPERTY PURCHASES AND QUALIFYING

If you are going to purchase an investment property, you want to make sure the rental income covers the mortgage payment. In addition, you should budget a cushion, i.e. rental income that more than covers your mortgage payment and gives you some profit each month. You can put the profit aside and keep it in...

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RENTAL INCOME AND LOAN QUALIFICATION

If you own rental properties, you can include the net rental income for qualification. But, how much of this rental income can you include? If you owned the rental for less than a year, and it does not appear on your last tax return, underwriters generally use 75% of the rental income on the lease....