Sentences with phrase «projected rental income»

We qualify for both loans without projected rental income.

we were told it is possible to use projected rental income in order to qualify for a 203k home renovation loan.

Buyers looking to purchase a multiunit property and count projected rental income toward loan qualification will typically need to have a two - year tax history as a landlord.

Mill Creek Place has already attracted about $ 30 million in investments to buy the land for the project, while Riverwalk Residences of Las Olas could generate at least $ 19.2 million in rental income for Roy's firm if it brings in projected rental income on the reported 401 units as planned.

The clear insinuation was that if it wasn't an investment and I could qualify without needed projected rental income, that I would get a better mortgage rate.

Borrowers who qualify to use projected rental income will also need six months» worth of reserves in the bank — that's six months» of full mortgage payments, including taxes, insurance and any homeowners association dues.

In terms of calculating the projected rental income, Veterans United currently uses the lesser of 75 percent of verified prior rent collected on the units or the appraiser's opinion of the property's fair market rent.

The problem is you might not be able to factor that projected rental income into the equation when it comes to qualifying for the loan.

You also can't use the projected rental income to offset a portion of the mortgage payment.

Withholding Tax on Rental Income: You may obtain an exemption from the 25 % non-residents are required to pay to Revenue Canada by filling out a simple form called an NR6, explaining that the projected rental income is less than the anticipated expenses associated with the property.

To help make sure being a landlord is going to be profitable for you, you'll need to calculate your cash flow by weighing your upfront costs and ongoing expenses with your projected rental income.

I know the rental income and the projected rental income — I know exactly what's happening.