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QUESTION: I want to turn my current home into a rental and buy a new home. Can I do that since I purchased it as my residence?
February 15, 2019
QUESTION: I am on a fixed income and want to buy a home with a fixed rate. What happens to my payment if my taxes and insurance go up?
February 15, 2019

QUESTION: If I buy a new house as a rental, can I use the rent as income?

Answer:

Most of the time you can use the rent to help qualify! The FNMA formula with allow you to use 75% of the rent against the payment. The 25% discount allows for expenses and vacancy to be estimated. This means if you buy a nicely cash flowing property, it could actually help you qualify better. Some products require you to have landlord experience or at least at higher LTVs to use the rent.

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