Updated 3 months ago on . Most recent reply
Lending question for renting current home!
Good evening!
I recently was talking with a lender about moving out of my primary and renting it and then looking for a new primary to buy. The lender told me if I did that I would need 2 years of tax returns proving I have been renting my current home at a certain rent. I swore that most lenders would accept a signed lease with that stated rent amount and that would suffice! The concern was about DTI if I would keep it as a rental. Am I wrong or do some lenders count a signed lease as to not affect my DTI?