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Updated almost 9 years ago on . Most recent reply
Counting rental income to qualify for a four-plex?
Are there any lenders or particular programs that will allow you to count rental income to help qualify for an owner-occupied multifamily property? Four-plex in particular.
Most Popular Reply
Shaun Weekes
- Loan Officer / Processor / Life & Health Agent
- Rancho Cucamonga, CA
- 757
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Absolutely. Conventional loans have no seasoning anymore so 2 years isn't the case. You can use lease agreement right away. Conventional lenders with no OVERLAYS will take 75% of the lease agreement and FHA will take 85% of lease agreement.
PM me or ask away if you need anything else explained.