rent out current home and buy another

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Hi guys. I currently own a home and have a line of credit which I would like to use to buy another house. When I called Chase, they said that they don’t look at the rental of my current home in the evaluation process.

Can you guys recommend lenders that I can use to get another mortgage?

Hi @Hashmat Amin! If I understand your situation correctly, you don't have a tenant renting your current house yet, right?  

Assuming that is the case, no lender can use the rent that is would provide in the underwriting process.  That is a hypothetical income, and not actual income.  If you were to go ahead and lease out your current home (requiring you to live somewhere else for a short season) then the bank (any bank) should be able to use a certain percentage of the lease amount towards your income.

The lease is what makes the income "real" instead of hypothetical, thus something the bank can consider.

I hope this is helpful!