Financing on “future rent” ??

[Shalom Benton]

I’m looking to purchase a quad and I want to use the future rents to show that the property can pay for itself. I’ve been told that you can do this, but when I asked my loan officer if that was a possibility, he said no..... how does one go about financing a property, such as a multi unit, and use future rents this way? What banks will allow it? Thanks!!

[Jon W.]

   If you are using a Fannie Freddie mac lender it is called offsetting your debt to income ratio using either potential rental income or current rental income from the tenants that currently live on the property.

look out... this is a hard conversation to have with stupid 20 something year old mortgage loan officers that know nothing about mortgage underwriting. Keep in mind.

Ask for a big kid to talk to over the phone that understands your needs and concerns in regards to mortgage lending 👌👍😁

Hope that helps!