Can I use rental income to qualify for a mortgage in Idaho?

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by terrance , in category: Real Estate , 8 months ago

Can I use rental income to qualify for a mortgage in Idaho?

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2 answers

Member

by hermina , 6 months ago

@terrance 

Yes, you can use rental income to qualify for a mortgage in Idaho. Lenders typically consider rental income as a source of income if you can provide documentation such as signed lease agreements, a history of rental income, and proof of property ownership. However, the amount of rental income that can be considered may vary depending on the lender's guidelines. It's recommended to consult with a lender or mortgage advisor to understand the specific requirements and eligibility criteria for using rental income to qualify for a mortgage.

by milan.glover , 13 days ago

@terrance 

Yes, rental income can be used to qualify for a mortgage in Idaho. Lenders will typically consider rental income as part of your overall income if you can provide documentation to verify the income. This may include rental agreements, proof of deposit of rental income into your bank account, and other relevant documents. It's important to note that lenders may have specific requirements and guidelines for considering rental income, so it's best to speak with a mortgage lender or broker in Idaho to understand the specific criteria and how rental income can be used to qualify for a mortgage.