Profile picture for dogsrme

If you buy a property with two homes on it, to rent one out, can you get a higher loan than otherwis

Can you count the projected rent as income?  Can you get an fha loan on this type of property?  Any info appreciated.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 20 2009 - Valley Center
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

2 units are acceptable. Rent can be used if you have a history of being a landlord on your taxes. You can also add a non-occupant coborrower if that will help you. Call me if you need the loan. I can help you.[content removed by moderator], Jayne
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2009
Profile picture for sunnyview
A few years ago, I would say yes you could, but now I don't know. Many banks used to consider sort of an "income credit" for a reasonable amount of rent say maybe 10 months a year at an average rate on properties that had another unit like a duplex or even houses with legal mother in law quarters. It was often a good way for first time homebuyers to be able to  reduce their monthly expenses and up their income to qualify for a loan. Now that standards have changed in other areas, I do not know if they still do that. If I were you, I would repost your question in the mortgage section of the forum so the broker there can weigh in with the up to date answers about how that might work for you now. They are very helpful and will be able to explain the process.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 20 2009
The will be income is not count as income for many bank.
They require 2 years of your taxed income.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 20 2009
 
Related Questions
Is there Mello-Roos tax in the Woods Valley neighbrhood?
Profile picture for Jamie Hawks
Latest answer by Jamie Hawks
March 23 2013 | 1 answers
is is better to build a new house or buy one already built
Profile picture for Don Fabrizio-Garcia
Latest answer by Don Fabrizio-Garcia
February 06 2009 | 2 answers
If you buy a property with two homes on it, to rent one out, can you get a higher loan than otherwis
Profile picture for Jayne Ewing
Latest answer by Jayne Ewing
February 06 2009 | 3 answers
Hi...what is the exact property tax rate for Valley Center?? Is it possibly1.1245% Thanks, Bob
Profile picture for Jayne Ewing
Latest answer by Jayne Ewing
February 06 2009 | 1 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 1401 El Norte Pkwy SPC 61, San Marcos, CA Home For Sale
    1401 El Norte Pkwy SPC 61, San Marcos, CA 92069

     For Sale: $39,900

    • Beds: 2
    • Sqft: 1392
    • Baths: 2.0
    • Lot: --
  2. 971 Borden Rd SPC 11, San Marcos, CA Home For Sale
    971 Borden Rd SPC 11, San Marcos, CA 92069

     For Sale: $89,900

    • Beds: 2
    • Sqft: 1440
    • Baths: 2.0
    • Lot: --
  3. 826 River Run Cir, San Marcos, CA Home For Sale
    826 River Run Cir, San Marcos, CA 92069

     For Sale: $474,900

    • Beds: 3
    • Sqft: 1821
    • Baths: 2.0
    • Lot: --