Did you know that VA does not calculate rental income the same way as many other types of loans? They simply use the full amount of the rent to the point that it offsets the mortgage payment on that home. Any extra income is not counted, but any deficit is considered a debt.
Related Article Title: VA – Rental Income Calculation on Exiting Property – How do I calculate rental income for a VA borrower on a departing owner-occupied residence where there is no history of rental income? Answer: VA does not have an equity requirement for a departure residence when using rental income from that departure residence, to […]