[quote=rockingtime]Yeah, I have mortgage on all three
I always need to be in a position to be able to afford the 2 houses: The one I am living and another I want to buy.
When I bought the third house, I simply showed them the rental receipts for second house, it means lender does not have to worry about second house as rent covers the mortgage for second house[/quote]
But didn’t you have at least awaiting period before rental income on a new rental property could be considered as income? My understanding (as it was explained to me from lenders) was that my rental income could not count towards your “income” in qualifying for new loans if the rental property was relatively new (within a year or within 2 years for some lenders).
