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Updated over 5 years ago on . Most recent reply
When can rental income be counted as income?
I’m in the process of purchasing my first investment property. I want to begin to prepare for the second property and wanted to know when the income generated from the first property can be counted as income to qualify for a small mortgage for the second property.
Does anyone know specifically when the rental income can be counted as income for qualifying for a new mortgage loan?
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
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#5 Medium-Term Rentals Contributor
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- Youngstown, OH
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
Pro Member
#5 Medium-Term Rentals Contributor
- Investor
- Youngstown, OH
I was told 2 years for your first property, and then immediately for any property you obtain after you have that 2 years of landlording under your belt. Iassume this varies by lender.