Could Rental Income Help You Buy Your First Home?

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YOUR FIRST HOME COULD HELP PAY FOR ITSELF!

Could Rental Income Help You Qualify for a Mortgage?

Here's something many homebuyers may not know.

When purchasing an owner-occupied duplex, triplex, or fourplex, qualifying rental income from the additional units may help offset your monthly housing expense when applying for a mortgage.

Live in one unit.
Rent out the others.
Potentially use a portion of that rental income to help qualify.

For example, imagine purchasing a duplex and collecting $1,600 per month in rent from the second unit.

That rental income could help reduce your out-of-pocket housing expense. And depending on the loan program and your qualifications, a portion may also be recognized by the lender when determining your purchasing power.

You may have more homebuying options than you realize!

Of course, vacancies, repairs, maintenance, and other expenses must also be considered.

Curious how much rental income could help you qualify for? Contact me for a personalized financing review. We can explore the numbers before you begin your property search.

Learn More: Click Here

Rob Clark | Home Loan Consultant
Firestone Financial Group
209-227-7745 | 559-476-9279
rbrtclark53@gmail.com
www.RobertClarkLoans.com

NMLS #357788 | Company NMLS #301522
CA DRE #01148307 | Equal Housing Lender

Example is hypothetical. Actual qualifying rental income may be less than rent collected. Financing is subject to credit approval, property eligibility, occupancy, and applicable underwriting requirements. Rental income is not guaranteed.