This is my recent experience with Bank of America; however, it can happen with any lender.I was recently denied a loan because of my DTI ratios. This wouldhave been my 2nd investment property…Continue
Started Nov 2, 2010
Almateen Yazid has not received any gifts yet
Thinking of converting my primary residence to rental. I don't think the guidelines have changed any since 2008 "Buy and Bail." I believe the guidelines for FHA are as follows:
at least 25% equity in residential home
80% of Gross rent applied from rental to be used for qualifying/additional income... or would they use (if filled) Sch. E?
1 year projected lease
proof of security deposits
Is that correct?
Posted on November 5, 2010 at 6:41am
Posted on November 2, 2010 at 7:48am
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