Buyers can use future rents to help qualify for purchases whether they are buying single family or two, three or four unit properties.
* Borrowers can use the market rents, and not actual rents, for income in most cases.
* Borrowers buying a 2 to 4 unit property as owner-occupants can use the market rents from the non-occupied units.
* Borrowers cannot use income from “un-permitted” units.
* If buying a single family residence as an investment, buyers, needing to use rent for income, must show a rental agreement, a canceled rent check, and proof the rent check has been deposited into the buyer’s account.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646
