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  • August 4, 2008 at 3:06 PM #13518
    Trojan4Life
    Participant

    Admittedly I’m all over the map, but I’m considering purchasing a rental literally on the sand in Mission Bay (sail bay) and it looks like it will produce about $60K in annual rental income. The mortgage note looks a little larger, with annual carrying cost closer to $70K.

    If I purchase this before I buy a home to reside in, what will be the ramifications on my ability to qualify for a residential mortgage?

    I realize there may be some things I might have missed like rental agent fees, etc…but I’m mostly interested in knowing about the loan impact.

    Thanks

    August 4, 2008 at 3:24 PM #252206
    Ren
    Participant

    I’d like to know how this works too. I’ve heard that only a portion (like 75%, depending on the lender) of the rental income counts as your own income, which helps prevent people from financing too many negative-cash-flow properties.

    August 4, 2008 at 3:24 PM #252450
    Ren
    Participant

    I’d like to know how this works too. I’ve heard that only a portion (like 75%, depending on the lender) of the rental income counts as your own income, which helps prevent people from financing too many negative-cash-flow properties.

    August 4, 2008 at 3:24 PM #252444
    Ren
    Participant

    I’d like to know how this works too. I’ve heard that only a portion (like 75%, depending on the lender) of the rental income counts as your own income, which helps prevent people from financing too many negative-cash-flow properties.

    August 4, 2008 at 3:24 PM #252384
    Ren
    Participant

    I’d like to know how this works too. I’ve heard that only a portion (like 75%, depending on the lender) of the rental income counts as your own income, which helps prevent people from financing too many negative-cash-flow properties.

    August 4, 2008 at 3:24 PM #252373
    Ren
    Participant

    I’d like to know how this works too. I’ve heard that only a portion (like 75%, depending on the lender) of the rental income counts as your own income, which helps prevent people from financing too many negative-cash-flow properties.

    August 4, 2008 at 4:35 PM #252280
    DWCAP
    Participant

    bad post

    August 4, 2008 at 4:35 PM #252452
    DWCAP
    Participant

    bad post

    August 4, 2008 at 4:35 PM #252461
    DWCAP
    Participant

    bad post

    August 4, 2008 at 4:35 PM #252519
    DWCAP
    Participant

    bad post

    August 4, 2008 at 4:35 PM #252525
    DWCAP
    Participant

    bad post

    August 4, 2008 at 10:34 PM #252459
    SD Realtor
    Participant

    I was not affected when I was in escrow last month. I think it all depends on your cash flow and possibly a few other factors. HLS would be a good person to ask on this one Trojan. Shoot me email if you want details on how mine worked.

    August 4, 2008 at 10:34 PM #252623
    SD Realtor
    Participant

    I was not affected when I was in escrow last month. I think it all depends on your cash flow and possibly a few other factors. HLS would be a good person to ask on this one Trojan. Shoot me email if you want details on how mine worked.

    August 4, 2008 at 10:34 PM #252632
    SD Realtor
    Participant

    I was not affected when I was in escrow last month. I think it all depends on your cash flow and possibly a few other factors. HLS would be a good person to ask on this one Trojan. Shoot me email if you want details on how mine worked.

    August 4, 2008 at 10:34 PM #252690
    SD Realtor
    Participant

    I was not affected when I was in escrow last month. I think it all depends on your cash flow and possibly a few other factors. HLS would be a good person to ask on this one Trojan. Shoot me email if you want details on how mine worked.

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