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In all likelyhood you can use the rental income. However, if I recall from my early days in lending the lender will allow 75% of the actual rent for income. That's due vacancy factor, maintenance, depreciation etc. Meaning if the rent for one of the units is $1,000 per month they will give you credit for $750 per month. However, these guidelines may have changed and it may also depend on other factors. It's best to contact a qualified mortgage broker or lender to qualifiy you.
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Since November 2009
Lender rating
Since July 2009
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ACTUALLY I WANT TO PURCHASE A DUPLEX, AND USE THE RENTAL AS PART OF MY IMCOME CAN THAT BE DONE?
TIJUAN
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ACTUALLY I WANTED TO PURCHASE A DUPLEX AND USE THE INCOME AS PART OF MY INCOME. WOULD THAT HELP ME QUILIFY?
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