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Updated over 10 years ago on . Most recent reply
Signed rental contract prior to new mortgage application??
Hey guys! My plan is to rent out my current home and apply for another mortgage loan through my bank and live in the new property as my primary residence... Would having a signed rental contract on my current home increase my chances of getting approved? Would it increase the amount I am approved for? If so, how would I go about doing it so I wont end up homeless while looking for my new home?? Thanks!!!
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James Wise
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James Wise#5 All Forums Contributor
#5 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
No. they will not count it towards your income