If I’ve never rented property to someone before as a landlord, and I’m considering buying a home and using some or all of it as a rental property, am I able to use the expected rental income on the home I want to buy? If no, how many years of “landlord experience” do I need in order to apply rental income toward my mortgage?

The answer to this question can be complicated and ultimately depends on the mortgage product. See below:

• Fannie Mae (Conventional): You do NOT need prior landlord experience to use 75% of lease.
• Freddie Mac (Conventional): You need 2-years prior landlord experience to use 75% of lease.
• FHA: You do NOT need prior landlord experience to use 75% of lease.
• USDA: Not allowed.
• VA: Not allowed.

To learn more about the mortgage application process, be sure to speak with an experience mortgage broker.