Home Buying in 91401>Question Details

Brian Mcelroy, Home Buyer in Sherman Oaks, CA

How can I get preapproved for a 4 unit bldg, when part of the mort. will be payed from rental income.?

Asked by Brian Mcelroy, Sherman Oaks, CA Sun Aug 2, 2009

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It can be done. Call one of the trulia pros above that do multi family loans. You want somebody with experience in doing them
0 votes Thank Flag Link Thu Mar 7, 2013
It is way easier to qualify for a non owner as we do utilize the proposed rents.
Email/call me if you would like to discuss.
0 votes Thank Flag Link Wed Mar 6, 2013
You can only estimate the sale price you will be pre-approved for when it comes to units considering each 4 unit building will have different actual or market rents. For the most part you should have a range so before viewing or making an offer on units the numbers need to be run on that particular property.

Any further financing questions contact me directly.

Good luck.
0 votes Thank Flag Link Sun Aug 2, 2009
the rental income together with your job income is what you qualify for
0 votes Thank Flag Link Sun Aug 2, 2009
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