Is it possible to lease out the home you are presently living in to buy a new home and have that lease payment offset your old mortgage payment? Yes it is, but you have to be careful about which loan program your lender uses for your new home. If this sounds like a great solution for you, let’s talk! I’m happy to answer any questions you have.
Related Article Title: VA- Lease Requirements on a Departing Residence to Offset House Payment Question: My client wants to buy a new home but has not sold their present home. Will VA allow a one-year lease on their departing residence to offset the payment on their present home in order to qualify for the new […]