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Updated over 8 years ago,
Loan for PR but can't move for 6 months - how?
Need some help figuring out whether this can be done.
We currently own a home but are looking to purchase a new one to move into and then rent out our current one. However, circumstance has us not able to move into the new home until 6 months later. In talking with the loan officer, we'll need to include rental income to qualify (since I am self employed and income likely won't be used). He said that they only really need a contract with a tenant to show rental income.
Could we possibly "rent" out to our parents for those 6 months, and then get a real renter afterwards?
Any other ideas?