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Updated about 9 years ago on . Most recent reply

User Stats

138
Posts
63
Votes
Robert Ombres
  • Real Estate Broker
  • Asheville, NC
63
Votes |
138
Posts

Rental income counting towards mortgage

Robert Ombres
  • Real Estate Broker
  • Asheville, NC
Posted

I just bought a primary residence with a VA loan. I understand I must live in this house for a year before using it as a rental property. Banks also require two years of rental income to count towards a future mortgage. Would I be able to live in the house as required while renting two of the three bedrooms in the house and use it as rental income for a mortgage in two years?

If the above scenario is possible..... and if the mortgage is only in my name, if I become married 6 months from now, can I rent the rooms to my wife and continue to count this as rental income?

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