Question Details

Carter Clayt…, Home Buyer in Atlanta, GA

Can I get qualified for a bigger loan if I buy a duplex and live in one side while renting out the other than?

Asked by Carter Clayton, Atlanta, GA Wed Apr 23, 2008

I would with just a single family home?
The wife and I are looking into buying our first house. We came upon an interesting property sort of by chance. It is a duplex in a very popular neighborhood for students. The asking price out of our price range but if we lived on one side and rented out the other, the mortgage payments would fall well within our comfort zone. The only issue is whether we could get qualified for a mortgage at the higher price of the house. Would the mortgage company take the rent from the other side of the house into account when deciding whether we qualify for the loan?

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