Is planning to rent out a room in your home factored into the home's affordability?

Asked by Stefanie Jamison, Silver Spring, MD Tue Jul 8, 2014

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Debra (Debbi…, Agent, Livingston, NJ
Wed Jul 9, 2014
the simple answer is "no" (as several have already noted below)........there is no reason to "submit it for consideration" - it won't be considered (by the bank) when you are being qualified for a loan.
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The Roskelly…, Agent, Gambrills, MD
Wed Jul 9, 2014
Generally not, but if you have a pre-signed lease of at least 12 months or more with a qualified tenant, you can at least submit it for consideration.
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Elva Wormley, Mortgage Broker Or Lender, San Jose, CA
Tue Jul 8, 2014
Hi Jam,

Lender's will not include room rents when calculating your debt-to-income ratio.

Best regards,

Elva A. Wormley
Mortgage Consultant
32+ Years Experience
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / BRE #01274093
0 votes
Dan Tabit, Agent, Issaquah, WA
Tue Jul 8, 2014
No. Renting to boarders is not common and any income can't be considered for a lending decision. They will only consider your existing income from present sources.
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