Using Projected Rental Income to Qualify

[Tommy C.]

Hi all!

I'm looking at using projected rental income to qualify for an FHA mortgage.

The property is a 4plex and I plan on living in the 4th unit while renting out the other 3 units.

Does anyone know of any lenders that will acknowledge projected rental income to qualify for the mortgage?

I just want to add that the property is for sale and the units are currently being rented so the leases are available.

Any help is greatly appreciated!

[Bill B.]

Shouldn’t be a problem. Every bank I’ve dealt with has included a percent of the signed leases. Between 50 and 100% depending on the bank and your track record as a landlord.