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Renting out 1st home question
legear
Member Posts: 6,716
Im looking to buy a new home soon. I think I can rent out my home quicker than selling it.
How will this go over as getting a loan for a new home? If rented out, will the income cover the debt ratio from keeping the 1st house.
I can get the new home no problem, but I worry about the debt/income ratio if I keep the first home also.
How will this go over as getting a loan for a new home? If rented out, will the income cover the debt ratio from keeping the 1st house.
I can get the new home no problem, but I worry about the debt/income ratio if I keep the first home also.
Comments
Likely any lender is going to want you to show that the rent has been coming in for some minimum period of months/years.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Way too much left unsaid
Right.
What color is the house?
[:D]
.......Ask your banker.