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1% Rule

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Ones rent would be 1% of the FMV example 100k house would rent for 1k. You will want to know your area because it may not be a true 1% rule in my area it is about a .85% rule, meaning on a 100k house I would recieve $850 in rent.

 

You also want to make sure that 75% of your rent will cover your mtg, if it doesn't your lender could view it at a loss of income. See, most lenders only take 75% of your rent payment and put it towards the mtg.

 

If the 75% of the rent is $750 and the mtg is $800, your lender sees that as a $50 loss in your income per month.

 

But, with l/o none of this effects your income. this is more for conventional buying.

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