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Updated over 5 years ago,
Using future rental income to obtain high loan amount.
Hello, I am buying my next property by the end of this year 2019. We don't have much income around (95k after tax).
My question is in order to obtain a high loan amount aside from have a good debt to income ratio and credit score...
Am I able to add future rental income from house hacking the house I'm applying for to obtain a high loan amount. We're trying to get a duplex however I'm afraid we don't make enough income to obtain at least 400-500k for a duplex here in Dallas, Texas. If we can't get a duplex we will just house hack a Single family home. I've asked several agents and lenders so far and they have not been able to get me a straight answer. Thanks in advance for all the support.