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If I get a year contract to rent out my mobile home, will the payment still count against me?

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mybfbeagle Joined: 23 Feb 2011 Posts: 1 1.26 Dollars($)	Posted: Wed Feb 23, 2011 12:41 pm    Post subject: If I get a year contract to rent out my mobile home, will th Like 0 Dislike 0 My mobile home is the only thing holding us back from buying a house and I can rent it out for more than the payment. Just wanted to know if that would hurt me on a mortgage loan.
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Wed Feb 23, 2011 2:34 pm    Post subject: Like 0 Dislike 0 Yes - you need to show two years as a landlord just like any other self employed business, before the banks allow you to count the rental income. Until then you will have to count all debts in your ratios for qualifying purposes B _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com

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