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As long as the home you buy is superior to the one you currently occupy, the underwriter should not question the truth of your claim to owner occupy the new home, which is their first main concern. But the rental income on the home you currently occupy will only be allowable if we can demonstrate through a recent appraisal that you hold a 30% equity stake In that home, and you have to prove you have 6 months of mortgage payments left in cash reserve after closing. if you owe more than 70% of its value now, we can still do the loan but you have to qualify without the benefit of rental income on that property. We can use your wife's net cash flow from the tax returns on her property so if you both make fairly good income its just a matter of doing the math to calculate if you can carry your mortgage payment as a straight debt in qualifying for the new home.
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For Sale: $234,900
For Sale: $244,900
For Sale: $299,900