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Updated almost 9 years ago,
Buying primary residence with rental income
Hi,
Thank you ahead of time for the help.
I am currently renting and I have a roommate who splits rent with me. I am in the market for a 2-3 bedroom townhome and one of the rooms will be rented out by my current roommate.
My question, could I count the rent he would be paying as part of my income to better my debt/income ratio? He would sign a lease and be a tenant.
My current financial situation: I have 10-15% available to put down as a down payment.
This will be my primary residence.