Can I use future bedroom rental income for House Hack VA loan?
I am currently in the process of being preapproved for my VA loan. I plan to have my letter tomorrow. I am a regional airline pilot in Houston and have many coworkers seriously interested in renting bedrooms from me when I get my house. My loan limit is a little bit lower than I was hoping for because of my child support. I asked my mortgage broker from Veterans United if I could use my prospective rental income to help get a larger loan but he said no, I cannot. The guy I'm working with seems very sharp so I trust his opinion but I could have sworn I read in some of the real estate investing books that you can use future income to obtain a larger loan. Does anyone know if I can use my future bedroom rental income to obtain a larger loan? I will be renting to friends and can likely convince them to sign a lease and pay their deposit now, even before we move in, if it helps me.