Yes, in certain situations. If you already own rental property, documented rental income may help with qualification. One of the key aspects here is if you’ve declared that income tax returns. If you’re buying a multi-unit property and living in one unit, projected rental income from the other units may also be considered. Rental income can be a powerful wealth-building tool when structured properly.
Please consult your Mortgage Advisor for guidance specific to your situation before making changes.
