Mortgage Brokers & Lenders
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 8 months ago,
Can I lease my primary residence to my LLC to qualify for another mortgage?
I'm currently house hacking (renting rooms) my current primary residence which is a single family home and has a mortgage. I would like to buy another home and make that my new primary residence. My current w2 income doesn't qualify me for both mortgages.
I was wondering whether I can show an executed lease between me and my LLC to make 75% of the rental income stated in the lease count toward qualifying for the new primary residence mortgage which allows me to put down only 5%. Will this be considered mortgage fraud?