Home Buying in 91401>Question Details

Brian Mcelroy, Home Buyer in Sherman Oaks, CA

What percentage of rental income will be considered when getting preapproved for a 4 unit owner occupied bldg?

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

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3
Usually it is 75% of the rental income on most loans. I have never heard 90.
0 votes Thank Flag Link Thu Mar 7, 2013
75% to 90% depending whether it's conventional or FHA loan. The more accurate numbers will come from the appraisal though.

Any further financing questions let me know.

Good luck
0 votes Thank Flag Link Sun Aug 2, 2009
Confer with your mortgage broker who can review entire file. If you own the units show income 100% should be counted underwriting might request your P & L statement

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0 votes Thank Flag Link Sun Aug 2, 2009
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