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No “In House” or “Boarder” Rent For Income, Unless Unit is Legal

We were asked again recently if a homeowner could put a “boarder” or an “in-house” renter in her home to augment income for qualifying purposes. The answer is “no” in most cases.

Lenders allow “in-house” rental income in some cases, but only if the income has appeared on the tax returns for one to two years.

If income comes from a separate, legal unit (such as an in-law unit, or the other unit of a duplex), then lenders allow the rental income to be used for qualifying in all circumstances.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646