Can room rents be used to help you qualify for loan
I'd love to help my two daughters buy a home using the house-hacking method and want to know if they can use the rent from room rentals to help them qualify for the loan, whether FHA Loan or otherwise? I am aware that some lenders will allow you to use 75% of the rental income to qualify for a loan/debt but does this hold true for purchasing of a single family home where you are renting out individual rooms? Would love someones input who has done this help me in answering this question. Also, would love if you shared how you went about qualifying for the loan when you bought a home and if you had to qualify solely based upon your own income?