The Federal government audits the lenders and randomly picks out mortgage loan application files for completeness and appropriateness.7.

I did have to e-mail them the written application from my tenant giving me permission to do the checks.

It lets them know that there is real interest and if you really want it, you should jump on the application.

Tell the kids they don't have sufficient credit and that the lease must be co-signed.Talk to the parents and explain they need to fill out the application as the kids have insufficient credit, but that you will allow credit histories for them.Send the lease and application and get them completed.

I have a question on what my desired rental income should be (including my own 'rental' costs for living in the property) and the applicability of the 2% and 50% RE rules in terms of the owner occupied multi-family investment.

FYI, Listing agents cannot write offers on their own listings period (just an FYI, not really applicable to your question).You can bet your broker will not agree to allow you to represent anyone for free.

And it's all about filling out forms, just like you would fill out a form at the doctors office or an application.

A business with an "applicable financial statement," however, has a safe harbor amount of $5,000.

Getting started usually involves submitting an application form to give the provider the info needed to create the IRS approved plan and trust documents for you.

You can get a guarantor (co-signer) if the applicant is not strong enough to pay the room rate on their own.