Underwriter wants to count payment against me..

[Samantha Klein]

Let's say you show a $500 annual profit after deprecation on your rental property on your taxes, wouldn't the lender divide that $500 by 12 and add that to your monthly income? I'm trying to figure out how much to claim in expenses this year on 1 property because my lender is telling me that for example, if my mortgage payment is $456, I need to make at least $456 a month in profit on my taxes, and I have never heard of that. I always thought even if show a loss on your taxes, let's say $1,200, the lender would divide by 12 and use $100 a month added to your debt side, am I right or is the underwriter? The underwriter wants to count the whole payment against me...