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Updated about 2 years ago,
Bank does not consider rental income for loan
Hi all! I'm looking to purchase my first rental property (second mortgage); However, on confirming with our bank, they do not consider future rental income from the property on their assessment. We currently have our first mortgage for our primary home with them. Is this normal for banks? As far as I know they should be considering a portion of the future rental income at least? Thank you!