Cleveland or Ohio Investor Friendly Lenders

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I am looking to purchase another duplex that will be owner occupied. The current duplex I own and live in is having the downstairs renovated. Typically lenders like to see an active lease in place before counting the unit's rent as income. The lender I've used before (Firefighters community credit union) let's us take a certain percentage of the rental value when determining income for buying power, but they are not being responsive right now. Please let me know if you have or know of any lenders in the area that do the same. I have enough to put 15-20% down.

Thanks!

[Dave Zwierecki]

Good morning Monica and hope all is well. I am not sure if you are still looking to purchase another duplex or not but I would love to help. I am local here in the Cleveland area and work for a national bank which offers common sense underwriting. Typically many lenders will use 75% of the rental/lease income on an investment property. There are many factors which can help to permit us to possibly use the rental income on the unit being renovated, in addition to the second unit of the property being purchased. Length of time owning rental property, credit scores, assets, etc... could all help potentially permit the use of the future rental income. There are additional programs available which may make sense to help with this purchase of a multi-unit home.