Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

166
Posts
106
Votes
Eddie Gonnella
  • Bangor ME & Richmond, VA
106
Votes |
166
Posts

House Hack DTI Question - Can you count rental income?

Eddie Gonnella
  • Bangor ME & Richmond, VA
Posted

Hi all,  I can't seem to find any definitive answers to this question. I'm looking to purchase my first property with the multi-family (2-4) house hacking strategy (live-in, low money down). Based on my income and a 40% debt to income ratio, I can qualify for about $250,000 in a low money down loan. 

In Richmond, VA, the going rate for most multi is at least $350K. Is it possible that a lender would consider the income from the other units as part of my debt to income?

I have no prior landlord experience and I've seen that most financing requires a 2-year history but I've also seen a few other opinions, so just looking to get something more definitive. 

Thanks in advance!

Most Popular Reply

User Stats

2,377
Posts
747
Votes
Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
747
Votes |
2,377
Posts
Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
Replied

@Eddie Gonnella FHA and Home Possible both will count your rental income in your loan scenario.

  • Harjeet Bhatti
  • Loading replies...