Can I use rental income as a payment for my mortgagae?

Asked by Cool Rod, 15801 Mon May 21, 2012

I have a large amount to apply to a downpayment but the only income I would have is from the rental that my boy friend would supply

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William Pola…, Mortgage Broker Or Lender, Suwanee, GA
Tue May 22, 2012
Well, based on the limited amount of information we have and the answers given, I can help you via private equity money. No credit or income check with 10-30% down. Call or email me to discuss.
Bill Polack
404 644 3295
1 vote
Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Mon May 21, 2012
No, you cannot use rental income from your own primary residence unless you have a history of claiming it on your Federal Tax Returns.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Mon May 21, 2012
Nope that is not allowed on any mortgage from a traditional lender, good luck,
0 votes
Tina Lam, Agent, San Jose, CA
Mon May 21, 2012
I'm a bit confused. Are you buying a rental from your boyfriend? That could present challenges in itself.

Otherwise, if you can generate a positive cash flow, net of all expenses, for at least 6-12 months, then you can find lenders who would consider that as income.
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0 votes
Sherrie Crow, Agent, Decatur, GA
Mon May 21, 2012
Hi Cool Rod,

I would need more information to answer your question.
What do you want to buy?
How much do you have to put down?
How much is the rental income and how long have you received it on this particular property?
Who owns the rental, you or your boyfriend?
Glad to help if you can help me understand your situation better.

Kind regards,
Sherrie Crow

Keller Williams Realty Metro Atlanta
315 West Ponce de Leon Avenue
Decatur, GA 30030
Cell: 404.790.8184
Office: 404.564.5560
Web page:
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