- Joined
- Feb 11, 2008
- Messages
- 4
I am a little confused with what are considered "expenses" on the 110% rule to show a property is cash flow positve? Is it:
Monthly rental income less mortgage principal + interest + property taxes only
or
Monthly rental income less all costs assosiated with the property i.e. the above plus insurance R & M, advertising, utilities etc.
Does each lender have their own rule?
Which lenders will recognise this rule?
If anyone could please clarify this I would appreciate it.
Thanks.
Monthly rental income less mortgage principal + interest + property taxes only
or
Monthly rental income less all costs assosiated with the property i.e. the above plus insurance R & M, advertising, utilities etc.
Does each lender have their own rule?
Which lenders will recognise this rule?
If anyone could please clarify this I would appreciate it.
Thanks.