Has anyone heard of a newly released IRS rule that requires you to file with a professional if you want to use rental income in your DTI for new loan qualification purposes?

The value I add to the deal is my expertise and experience in structuring the loan based on client's individual qualifications such as credit score, income, assets, experience and character.

You can only use the rent to offset your mortgage (for qualification purposes) if you buy a duplex or some other multi-unit property.

 
I am truly inspired by a local family and want to help in any way I can. I am a high school teacher and both children who were born in the United States have earned strait A's in spite of the challenges that extrem...

Providing professionals with information such as your goals, income levels, loan qualifications will have an impact on the advice the professionals will provide.

The qualification is just slightly more strict. 

If they meet your qualifications put them in the unit.

From what I gather only your primary residents can qualify but I'm not sure on how or why to apply or if I even qualif...

In my case I am looking for custodians that operate in California but that should not limit the scope of the thread.Some other questions / qualifications for those answering:(*) How long have you had a Self Directed IRA?

Thank YouHi Justin, commercial lenders will be looking for the following but subject to lender and product-specific: (There are niche lenders)Investor Only - loans to Individual, LLC, Corp and Limited partnershipAppraisal of propertyUS or perm resident (some will lend to foreign nationals at 65% LTV and higher rates)3 mos PITIA and closing costs (some will use loan proceeds for this if within LTV thresholds) 3 mo bank statement for proof30-day ownership seasoning on refinancing (some 30 days to 90 days)No tax returns, DTI calculations or income qualification (most)LTVs up to 80% (some sweet spot is 75% for cash out)DSCR 1.0 -<1.3 (some will look at this but some won't sweet spot is 1.2)Credit 650+ (credit will impact rate and LTV)Min Property Value $75K (Higher min in certain areas)Lease or unleased (must be rent ready .. rate may vary)Min Loan Amount (lender specific rates will vary on amount)5/1 ARM, 7/1 ARM, and 30-yr fixed-rate structuresNo sourcing or seasoning of funds (some will ask for 30-60 days seasoning)Must own primary home (lender specific some do some don't)