06/06/2024
I just received this from an awesome mortgage broker:
"As you likely know, most lenders will allow purchase plus improvements to add a suite.
Unfortunately (until now) most have not been able to use rental income from a suite unless it was completed and ready to be rented at the time of purchase.
I'm so excited to share with you that we now have exclusive access to a lender who will consider using future rental income for qualifying on a purchase when using purchase plus improvements to add a suite."
What's so awesome about this news? Every single-family home here in Tumbler zoned R2 can have an in-law suite! There is a shortage of rentals so why not take advantage of this lender and get the funds to add a mortgage helper to your new home!! Since the future rental income is considered, you might be able to get that home that was just a bit out of your reach previously.
Interest rates dropped yesterday!
Maybe it's a good time to say goodbye to renting and hello to home ownership.
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