Use projected rental income to help with mortgage approval.
Hi, my wife and I are looking to buy our first property in the next 3-4 months. We want to buy a multi family of 2-3 units and house hack by living in one and renting out the other one or two units.
My question is: can we use projected income from the other units that we wouldn’t be living in to help get approved for a mortgage? We would be looking to use a conventional loan.
With interest rates so high right now and property values up so much in recent years this would certainly help us when looking.
Thank you!