Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
James Win
  • New York City, NY
0
Votes |
2
Posts

Pre-Approval for a Rental Property When Splitting a High Rent

James Win
  • New York City, NY
Posted

I looked to get pre-approved for a mortgage and was denied because of my current rent. I rent an apartment with a roommate and pay around $1600 a month, with the total amount around $3200. We are both on the lease, so the bank is counting the full $3200 because i could be held liable for that. The lease doesn't seem to have any specific language about what happens if one person skips town. I have good credit, a fairly high income, and if they counted the $1,600 I would qualify for a fairly large loan.

Has this ever happened to anyone? I have a smaller lender saying they might be able to count just the half of it that I actually pay but haven't heard back.

Loading replies...