If you are planning to rent out the home you presently live in when you purchase your new home, let’s chat first. Home financing guidelines vary for issues such as the amount of rent that can be used as income, or to offset your present mortgage payment. A quick conversation will help you plan the right loan for your new home!
Related Article Title: Required Length of Lease on a Departing Residence Rental Question: When a client is converting his departure residence into a rental and using income to help offset the existing mortgage, can he provide a 6-month lease, or must it be a 12-month lease? Updated – Rental Income Chart – All Agency Comparison […]