If you have $1m in rental property mortgage debt, we will only approve your loan if you have $500,000 in a checking account.Lender D: No change to guidelines.

Sounds like I should be worried about getting my application approved then

@Lance Lvovsky On my properties, I make decisions on repairs, sign contracts with renters, approve contractors, and pay a property manager to collect rent and make inspections.

My property manager’s policy is for the landlord to ultimately approve potential tenants based on the financials and background checks they obtain and provide.

I have been pre approved and I’ve studied the area but I don’t have any capital to rehab but I see good deals.

I had one property come open in the middle of all this and I had more applications than I could approve.

Let's take a look at some of the top reasons a home might fall out of escrow. 1) Buyer Isn't Approved For a Mortgage.

Even then...ehh.Pets are optional (unless they're ADA-approved), so if you aren't a fan of pets, don't allow pets.When dealing with repairs:If you can, provide the other tenants with a list of handymen to call for all possible issues.

I would think our lender would want to re-evaluate this aspect as we go forward, but apparently because we were approved prior to this outbreak he doesn't need to look at it again.

I don't have any direct experience with this, but I have some very good bankers, but when something is a little outside the box, the loan officer gets it but lets me know that it throws up flags in the approval process.