If not qualify for one another mortgages downright, you’ll want to promote the lender having facts that you will be leasing your newest house up until the contingency months expires.

Generally speaking, loan providers would like to get a hold of a duplicate of lawfully done lease and a security deposit check just like the research that your particular renter have committed to lease payments you to definitely decrease your monthly houses expenditures. With this documents at hand, the lending company often processes and you will agree the borrowed funds, and you’ll be willing to romantic in your brand new home.

Much of the loan process are time-delicate, while you really need to look for an occupant prior to closure to the your assets, this new timelines score also tighter. We understand of feel you to definitely meeting the rigorous recognition due dates often depends on the group you happen to be dealing with.

All of our the-on line process was created to allow you to get the borrowed funds you would like inside checklist go out. We now have damaged they on to five simple actions to get you recognized having an additional mortgage for the a different domestic: