About Levi Brooks Expertise I am a licensed Real Estate Salesperson in the state of Georgia.
I can give detailed answers to questions regarding real estate transactions in Georgia.
I can answer general questions regarding the home buying or home selling process in other states.
I am not a licensed attorney, so I cannot and will not answer any questions that require legal advice or an attorney-client relationship.
Experience I am a licensed Real Estate Salesperson in the State of Georgia.
I am a member of the Georgia Association of REALTORS(R) and the National Association of REALTORS(R).
Question Is it possible to use someone's rent to you as income for purchasing a house? cannot afford a bit house on that. Ie: I make 21000 a year with good credit. I live with my daughter who makes good money but has lousy credit. She pays 1200 a month of all living expenses while I pay 800. Can I buy a house figuring in her 1200 a month as income.
Answer It depends on the lending laws of your state. If she was a stranger, that money should qualify as rental income, but since she is related to you, the lenders may not consider that as income.
Go speak directly to a few lenders and see what they can do for you. You may be able to both sign for a loan and between her income and your credit qualify for the home you are looking for.
