What happens when you purchase a 2-4 Unit property, and no leases exist? Is there a way to count the future leases as income? One of the advantages of purchasing a 2-4 unit property is that you can live in one unit and rent out the others.  When you buy a 2-4 unit property, and there are no leases, the lender will ask the appraiser’s opinion of Fair Market Rent.  There are other requirements depending on the type of loan you are considering, so let’s talk about your situation!
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What happens when you purchase a 2-4 Unit property, and no leases exist? Is there a way to count the future leases as income? One of the advantages of purchasing a 2-4 unit property is that you can live in one unit and rent out the others.  When you buy a 2-4 unit property, and there are no leases, the lender will ask the appraiser’s opinion of Fair Market Rent.  There are other requirements depending on the type of loan you are considering, so let’s talk about your situation!

ByBrandon Butler

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Your VA benefit for buying a home is a lifelong benefit.  However, there are some important points to remember.  If you use your VA eligibility to buy a home and then you do not sell that home, your eligibility will still be tied up in that house.  You may still have “partial eligibility” to buy another home, but not the full eligibility. However, once you sell the home your eligibility is restored and can be used again.  I love helping Veterans purchase or refinance their home, so please contact me with any questions.  I’m here to serve you!
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Your VA benefit for buying a home is a lifelong benefit.  However, there are some important points to remember.  If you use your VA eligibility to buy a home and then you do not sell that home, your eligibility will still be tied up in that house.  You may still have “partial eligibility” to buy another home, but not the full eligibility. However, once you sell the home your eligibility is restored and can be used again.  I love helping Veterans purchase or refinance their home, so please contact me with any questions.  I’m here to serve you!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.