Financing for Rental Property Using Projected Future Income

[Anthony Stancato]

I’m trying to find some options for getting a mortgage on a rental property. 

I was reading an article that stated:

“An appraiser can create a rented income schedule to show what the property will typically rent for,” Dalzell says. “Then the lender can figure your income to include that projected rental income, which may help you qualify for better terms and offset your payment.”

I’m trying to qualify for another single family property but debt-to-income is too high.

Does anybody know of some banks in Michigan that will use projected rental income in their qualification process?

thanks in advance. 

Tony