Looking for a Residential Mortgage Lender for a foreclosed home in Tobyhanna, PA.

Asked by Sassime40, Lehighton, PA Sat Jan 7, 2012

I have a few questions. I have a combined monthly income of $3,210.00. Part of the income is from rent that I receive from tenants. My first question is would I be able to consider this rent as income if I claim it on my taxes for 2011 or do I need too claim it for 2 yrs? before it would be considered part of my income? I do have the canceled checks from my renters.

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Gayle Dimas, Agent, Stroudsburg, PA
Sun Jan 8, 2012
Speak to this mortgage broker

Brad Mescavage, from Gateway Funding. He is great! Tell him Gayle Dimas from Brokers Realty referred you.
Cell: 610-703-0072
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, ,
Sun Jan 8, 2012
Are these renters in your home that you live in, or another property?

You typically need to have rental claimed on tax returns for two years to use the income. You do not get to claim all of the income though. If you have write offs and expenses, its your adjusted income, after all expenses that you are able to claim.

There are some things that you can add back in and there are some lenders that may except other ways to prove the income.

You should call and speak directly to a Loan Officer and have them pull your credit and obtain all of your income info so you know exactly what needs to be done so you can qualify.

I would be more then happy to help if you have further questions.

Paul Deibler
First National Bank
Office - 410-581-5095 x 150
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