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Updated over 4 years ago on . Most recent reply

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Qualifying question for Lenders

Posted

Hello there,

I'm a new investor in Minnesota. I have a question for mortgage agents, lenders or investors who have dealt with this:

Can you use fair market rents to help with financing the purchase of a property??

for example, if you are just a hair away from being able to qualify to finance a purchase (FHA), but the rents are at 1000$ in an area where it can eaaasily go for 1800$, (and all month-to-month) does that count for something? and if so, how much?

Thank you!

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