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Mortgage Community Forums | Loan Talk for First Time Home Buyers | Can I use proceeds from a rental toward my income to qualify for a loan?

Can I use proceeds from a rental toward my income to qualify for a loan?

Posted on: 26th Apr, 2010 04:20 pm
I have a home in GA and am moving to FL for a job change. I have a score of 750+/- and great ratios. My question is can I use the proceeds from my home in GA if I rent it as income to qualify for a 2nd loan in FL?
Only on an FHA loan, as relocation is one of the few exceptions to the buy and bail guidelines on FHA loans.
Anonymous
Posted on: 27th Apr, 2010 03:55 pm
Only on an FHA loan, as relocation is one of the few exceptions to the buy and bail guidelines on FHA loans.
jburke
Posted on: 27th Apr, 2010 03:55 pm
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