Estimated rents in the underwriting process
So here’s my scenario, I currently own a condo I bought as a fixer upper, I got it all renovated and am looking to now leave this condo rent it out and buy a duplex, I have a W2 job, however I don’t think I make enough to qualify for the price of an average duplex in my area and the condo at once, I was reading that you can use 75% of the projected monthly rent income to qualify in the underwriting process with traditional financing, I was hoping I could do that for the condo and the other half of the duplex I won’t be living in, is this in anyway an accurate thing or a possibility? Appreciate you reading though and giving any input. Thanks!