Asked by Kyle O'connor, Billerica, MA • Tue Jun 12, 2012
My family is getting larger and we are outgrowing our property.
Is it possible to rent our current home and still qualify for a mortgage on a second home? (which will become our primary residence)
We have been told that rental income will be $600 per month above what our current mortgage on the home is. (Area Realtor)
Combined annual gross income of $130,000 with a $400 car payment.
Any and all advice is greatly appreciated!
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