Using Rental income to qualify for mortgage after 1 year?
Hello everyone,
I am have been renting out a single family residence for $1425 and have a PITI payment of $998 (I used to live in it), I am applying for a mortgage on a second property and they won't count any of my rental income because I don't have 2 years of tax returns...I've only been renting it out for one year. Is there any way to get this counted? Are there some lenders that will count it with one year of tax returns and a current lease or something?
Thank you,
Mike