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Mountain_Bill5743 t1_j5vvg2p wrote

Reply to comment by BingBong022 in WHY ARE HOUSES SO EXPENSIVE by mommy2boy

If OP doesn't have the cash flow for a SFH, then they're unlikely to be able to afford the going rate for a multi-family. Rental income will only help with cash flow later on after initial investment/income assessment.

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ProvBroker t1_j5ysju7 wrote

Lenders will allow some income of an occupied multi-family to count towards the mortgage applicants income for the purposes of preapproval and determining spending ceiling. So often times borrowers are approved for a much higher value on a multi-family home. So sometimes it can work out to be more affordable on a monthly basis.

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BingBong022 t1_j5w2swe wrote

OP wants a Ferrari when they got Honda Civic money

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