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Updated 12 months ago,
Need financing advice: Getting pre-approval for FHA loan on multi-family property
Hi Ya'll:
So here's the idea. Finally have that egg and I can put 10% down on an FHA loan, but I am trying to sort out what I can list as income when I am looking for pre-approval.
Typically you are able to include the rental income from the other units when listing your income, but if I'm not certain what that rental income will be am I able to use an estimate for this? What do I need to back that estimate up, and am I likely to take a hit and not get the approval if I don't do this correctly?
Any help and insight would really be appreciated.