If 75% of the market rent covers the mortgage will banks...

[William D.]

If 75% of the market rent covers the mortgage do I still need to use my income to qualify for the mortgage?

Using round numbers for ease of explanation.

Mortgage: $1000

Market rent: $1350

Bank will use 75% of the market rent as income to qualify for the mortgage.

75% of $1350 is $1012, which covers the mortgage (PITI).

Will I still need to have X amount of income to qualify even though the mortgage will be covered with the rental income?