Does every person needing a loan need to have a job working for a company or can they be a landlord and own four or five houses and just have cash flow for an income to qualify?
Hi there Lillith! Income for loan qualifying can come from all sorts of places. This video focuses (mostly) on income from employment-based sources, but income from rentals, investments, retirement, disability, trusts and more are allowed. Rental income is calculated in an interesting way. In this video: th-cam.com/video/_Awv_8IlNDE/w-d-xo.html at the 15:55 mark, I talk about how we figure rental income for loan qualifying. If (figured this way) rental income generates enough positive cash flow, then you can use just it to qualify for a loan. If you have other questions or want to talk through your own situation, I'd love to connect! You can email me at juleef@rate.com or text or call me at 503-799-3711. Seriously reach out any time!
Very good Julee ! And a thorough wrap up at the end.
Thanks, Mary!!!
So helpful! Thank you ❤
You're very welcome! If you have any questions, just let me know! You can reach out to me any time at 503-799-3711 (text or call) or juleef@rate.com.😄
Thank you.
You’re more than welcome! 😁
Does every person needing a loan need to have a job working for a company or can they be a landlord and own four or five houses and just have cash flow for an income to qualify?
Hi there Lillith! Income for loan qualifying can come from all sorts of places. This video focuses (mostly) on income from employment-based sources, but income from rentals, investments, retirement, disability, trusts and more are allowed.
Rental income is calculated in an interesting way. In this video: th-cam.com/video/_Awv_8IlNDE/w-d-xo.html at the 15:55 mark, I talk about how we figure rental income for loan qualifying. If (figured this way) rental income generates enough positive cash flow, then you can use just it to qualify for a loan.
If you have other questions or want to talk through your own situation, I'd love to connect! You can email me at juleef@rate.com or text or call me at 503-799-3711. Seriously reach out any time!