Who it is for
- You are buying a property you will not occupy, or refinancing one.
- You can document income, including any rental income the lender is willing to count.
- You have cash left after closing, not only the down payment.
How it usually works
- We separate primary-home guidelines from investor guidelines at the start.
- Leases, tax returns, and a fair view of expenses all matter. A hopeful rent number is not income.
- We will say if the payment only works when nothing goes vacant or breaks.
Read this before you get attached
- FHA and VA are generally not investment-property programs.
- Cash flow on paper and cash flow after repairs are different.
- Occupancy fraud — calling a rental a primary home — is a federal problem. We will not do it.
Questions worth asking
- How much of the rent will the lender actually count?
- What reserves do I need after closing?
- How does this rate compare with a primary-home quote, and why?