Qualifying for an investment property mortgage
I am trying to figure out if I will qualify for a 2nd mortgage on an investment property. I have a mortgage for my home already so I dont know if I can get another one. I have heard that they will count 75% of the rent toward the mortgage, but what if I am buying a pre-foreclosure or some other SFR that isn't currently rented? If I say I am planning on renting it out will they count the potential rental income? I'm thinking no. So, is it even possible for me to get qualified for an investment property?