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Updated almost 9 years ago on .

User Stats

355
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191
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Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
191
Votes |
355
Posts

Can you count income from first o.o. property to qualify for 2nd?

Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
Posted

I'd like to help relatives with a moderate income buy a duplex in order to live rent-free, probably with a Home Ready mortgage that allows the rent in the 2nd unit to count toward qualifying. I'm wondering if they could then purchase another property to move into later on--can they count the income from both units? Would they have to wait a certain length of time or factor in anything else?