Rental income counting towards mortgage

[Robert Ombres]

I just bought a primary residence with a VA loan. I understand I must live in this house for a year before using it as a rental property. Banks also require two years of rental income to count towards a future mortgage. Would I be able to live in the house as required while renting two of the three bedrooms in the house and use it as rental income for a mortgage in two years?

If the above scenario is possible..... and if the mortgage is only in my name, if I become married 6 months from now, can I rent the rooms to my wife and continue to count this as rental income?

[Shaun Weekes]

@Robert Ombres

2 things here.

- Rental income only needs to be seasoned for 1 day not 2 years

- Renting out rooms in your home doesn't count unless you have a live in Nurse or something along those lines.  It's called border income and won't help you.  You'll need to be moved out of the home.

Please listen to my interview on the Joe Fairless Show last year...The link is on my profile.

I hope this all helps and have a great day Sir.