This is a YouTube video titled "Qualifying for Investment Property" featuring Derek McGowan explaining how rental income can be used to qualify for a mortgage on an investment property, using an example to illustrate the process. The content is educational and focused on real estate financing.
Fine for an investment property is easier than many might realize. When we get an appraisal done, we can have the appraiser run a fair market rental value report, and we can use 75% of that monthly amount as qualifiable income. So let's say, for example, you have $100,000 house. You're going to have a $750 mortgage payment, but you can rent that house for $1,000 a month. You can take 75% of that, which is $750, and use that as assumed income to qualify the loan. So really, you have a $750 payment, 750 coming in. It's right back around to where you started. You qualify for the house just like you would have before.
