Planning on Moving and Renting our current homeRight now my wife and I each own a home we bought before we were married. We have been renting my wife's house out for the last three years and have been reporting the income on tax returns. We would like to move out of my house (the house we currently live in) and buy a new home in an area we like a lot now that rates are so low. My question is even though we own two homes already, will we be able to qualify for a sizable loan on a house we would like to purchase? We plan on renting out my house (I would be able to rent it out for about $600-$700 more than my mortgage payment. My wife and I both make a pretty good salary as well and have nearly perfect credit. What steps do we need to take to make this a reality?October 18 2011 - Eagan00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.