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Would Finding A Lessee Prior To Buying A House Make It Easier To Get A Loan?

Mу wife аnԁ I аrе beginning tο prepare tο bυу ουr first house.
If wе find someone wе wουƖԁ Ɩіkе tο lease a room tο аnԁ hаνе thеm sign a lease prior tο υѕ choosing/buying a house, wουƖԁ thаt boost ουr income up fοr loan consideration, thereby helping υѕ during thе loan process?

5 Responses to “Would Finding A Lessee Prior To Buying A House Make It Easier To Get A Loan?”

  1. No if you’re purchasing a primary residence they will not consider that rent as part of your income. The basic reason being that without a rental history there’s no way to even tell if that person will ever move in, they could back out of the lease.

  2. Unfortunately, “boarder” income cannot be used for qualifying purposes on loans.
    You have to qualify for the loan on your own, but that doensn’t bar you from renting a room if you like.

  3. Generally not with a single family home, but your could try asking local bankers.
    Don’t overextend yourselves.

  4. Don’t bring it up.

  5. No. Are you buying your own home or an investment property? That is the question your lender will ask you if you try that. Everything costs more with an investment property so be careful what you say–you may regret it.

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