Usually the banks use your monthly/weekly gross salary to determine your maximum loan amount. In some cases you might receive rental income from another property or a flat. Each bank has their own criteria and method to calculate the rental income when evaluating your application, so there is no definitive answer in this case, but I will try to explain the trend below.
Tag Archive: home loan application
Do Lenders Consider Rental Income As An Additional Income Source?
Filed Under: Frequently Asked Questions - Published on January 14, 2011
What Documents Are Required For A Home Loan?
Filed Under: Frequently Asked Questions - Published on January 13, 2011
When you apply for a home loan, the banks/lenders will require some documents to assess your application.
It is important that these documents are clear and legible to avoid any unnecessary delays with your application.
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