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Updated over 8 years ago on . Most recent reply
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Can I claim Rental income for my primary residence for new mortg?
I am looking to upgrade to a larger home. I currently have 2 rentals with 5 years of rental history plus my current primary residence. I want to buy a larger home and then rent out my current residence. When qualifying for a owner occupant home loan, can I use the expected rent from the old primary residence as income to qualify for the new loan because of the debt to income ratios? I know initially I had to have 2 years of rental history in order to claim the income from other rental properties. I'm wondering if this also applies to the new proposed rental.