HLS – When you are qualifying for the rental property mortgage, how does the bank consider the rental income? I heard they allow you to apply 75% of the income to qualify. Is that usually the case? And how does the bank decide what the rental amount would be if it’s on a home that wasn’t previously a rental? My husband and I have talked at different times about rental property investments, but honestly we haven’t looked that much into all the areas to consider. It’s something we have interest in at some point in the future.
Thanks
