This appraisal will verify that there is 30% equity. The appraiser will also let us know what rent will be for the property. We will use 75% of that rent. You will not be required to provide a lease agreement.
You will need to qualify for both payments.
75% of the rent will be added to your income to help off set the payments.
It is now possible to count 75% of the rents in qualifying.
Elva A. Wormley
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / BRE #01274093