Close

See current mortgage rates on Zillow Mortgage Marketplace

Landlord verification

Profile picture for jsurd
I am trying to pre-qualifiy for a loan on a home purchase and have been informed by Wells Fargo underwriter that they require 2 years of landlord verification in order to count my rental income from a property I own in their calculation. However they do count the mortgage payment and other expenses related to that property, thus severely impacting the size of loan I qualify for. Do all lenders require a similar 2 years of "landlord verification" via tax returns?   
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

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.

0Yes

February 11 - Calabasas
 Share
 RSS
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (1)

Profile picture for funds2
What they are likely asking for is for your tax returns for the past 2 yrs to show rental income on Schedule E. They will analyze the income received and deduct expenses (not depreciation) and give you credit for the positive income averaged monthly for those 2 yrs or deduct from  monthly income if the # is negative.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

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.

0Yes

February 12
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion
Related Questions
Profile picture for Andreasmolin
QuestionWhat can I do to get more (or better) quotes for my loan request ZR-VCKWZCZ
  • Latest answer by Andreasmolin
  • February 23
Profile picture for wayne lancaster
QuestionLandlord verification
  • Latest answer by wayne lancaster
  • February 12
Related Articles
GuideJumbo Loan
GuidePrivate Mortgage Insurance (PMI)
GuideA QUICK ARM 101
GuideA QUICK ARM GLOSSARY
GuideLOANS (A 3-MINUTE ARM GLOSSARY)
Compare Mortgage Rates

See all mortgage rates in Calabasas

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