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You generally need 1-3 years of incoming rent history for them to consider it as income to offset the mortgage, depending on the lender. They will ask for tax returns.
Both are sort of right. They will use 75% ( or something) of lease rent less things like mortgage and tax and insurance and hoa. Good luck showing profit.
If you have filed taxes already they will use tax return.
They will use your lease and apply a percent of that lease amount to your income. Which helps out your debt to income.
My broker has said if you can prove that over last 12 months you did not pay directly (if you had leasing company pay for mortgage payments) then it wouldn’t count against you. If it’s cash flowing and profiting can also be seen as income