Zillow Advice: Approval Process - Possible to buy new primary residence and have existing home as rental? http://www.zillow.com/advice-thread/Possible-to-buy-new-primary-residence-and-have-existing-home-as-rental/419743/ Zillow Advice | Zillow Real Estate Most lenders will require ... http://www.zillow.com/advice-thread/Possible-to-buy-new-primary-residence-and-have-existing-home-as-rental/419743/ Most lenders will require 30% equity in the departing residence to allow rental income to qualify. If you have sufficient income to cover both housing payments you may qualify. In addition to your 20% down payment you'll need 2 months PITI on the new property and 6 months on the departing property.<br/><br/>Happy funding, Rudi Tue, 18 Oct 2011 21:17:00 GMT http://www.zillow.com/advice-thread/Possible-to-buy-new-primary-residence-and-have-existing-home-as-rental/419743/ 2011-10-18T21:17:00Z There are many variables ... http://www.zillow.com/advice-thread/Possible-to-buy-new-primary-residence-and-have-existing-home-as-rental/419743/ There are many variables to take into consideration.&nbsp; I suggest that you speak with a lender and explore all of your options.&nbsp; Your local lender or mortgage broker will be able to answer all of your finance questions. <br/><br/>Thank you for your question.<br/><br/>Cecilia Tue, 18 Oct 2011 20:29:00 GMT http://www.zillow.com/advice-thread/Possible-to-buy-new-primary-residence-and-have-existing-home-as-rental/419743/ 2011-10-18T20:29:00Z