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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
