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Does STR income help for loan qualification ?

895 Views | 2 Replies | Last: 2 yr ago by MAS444
MAS444
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AG
If looking to buy a second home/investment property, does the property's past STR income help the DTI calculation. Obviously rates are high, but what are current terms for such a deal?
Jay@AgsReward.com
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AG
The past income STR income will not help qualification.. If it is an investment property you can use 75% of the appraiser assement of the rent but that nunmber will be much closer to a 12 month lease then STR income. If you call it a second home you can even use that for qualification.

MAS444
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AG
Thanks jay. Looking at a place that we'd only probably use a few times a year for now and is more than I'd want to spend. But it brings in about 15,000/mo income so wondering if we could make it work.
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