{"id":16596,"date":"2020-03-02T06:09:24","date_gmt":"2020-03-02T11:09:24","guid":{"rendered":"https:\/\/mortgagedepot.com\/?p=16596"},"modified":"2020-03-02T06:09:24","modified_gmt":"2020-03-02T11:09:24","slug":"max-rental-credit-allowed","status":"publish","type":"post","link":"https:\/\/mortgagedepot.com\/max-rental-credit-allowed\/","title":{"rendered":"Max Rental Credit Allowed"},"content":{"rendered":"<p><strong>Did You know that conventional lenders have a calculation to determine the max rental credit allowed on a Lease to <a href=\"https:\/\/mortgagedepot.com\/purchase-loan-programs\/\" target=\"_blank\" rel=\"noopener noreferrer\">purchase<\/a> option transaction?<\/strong><\/p>\n<p>Our lender partners will only give rental credit towards a Borrower&#8217;s down payment by using the difference between the market rent and the actual rent paid for the last 12 months.<\/p>\n<p>The market rent is determined by the appraiser in the appraisal for the subject property so a rental analysis will be required.<\/p>\n<p>A copy of the rental\/purchase agreement proving at least a 12 months term along with 12 months of canceled rent checks is required.<\/p>\n<p><strong>Note:<\/strong><\/p>\n<p>The Borrower IS NOT required to make any minimum contribution from their own funds in order for the rental payments to be credited towards the down payment.<\/p>\n<p>Any questions regarding a borrowers down payment, contact our <a href=\"https:\/\/mortgagedepot.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">office<\/a> and we&#8217;ll connect you to a <a href=\"https:\/\/mortgagedepot.com\/loan-officers\/\" target=\"_blank\" rel=\"noopener noreferrer\">loan consultant<\/a> who can help with answering your questions or concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did You know that conventional lenders have a calculation to determine the max rental credit allowed on a Lease to purchase option&#8230;<\/p>\n","protected":false},"author":70,"featured_media":16598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158,122],"tags":[],"_links":{"self":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts\/16596"}],"collection":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/comments?post=16596"}],"version-history":[{"count":0,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts\/16596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/media\/16598"}],"wp:attachment":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/media?parent=16596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/categories?post=16596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/tags?post=16596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}