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Rental Income for Mortgage Qualifying: What Counts and What Doesn’t
Landlords and buyers moving into a new primary residence often want to count rental income — here is how underwriters actually calculate and document it.
Lenders can generally count rental income toward qualifying, but the amount and documentation depend on whether the property is already rented, newly acquired, or a departing residence. Underwriters typically apply a vacancy factor and require leases or Schedule E history, and may order an appraisal-based rent schedule. Short-term rental income usually needs a longer history than a standard lease.
- ✓Underwriters reduce gross rent by a vacancy and expense factor; the factor depends on the loan program and the guideline version applied.
- ✓Existing rental history is usually shown on Schedule E of your tax returns.
- ✓New rental income on a property you are purchasing may be supported by a lease and an appraisal rent schedule.
- ✓Converting a departing primary residence to a rental has its own documentation rules.
- ✓Short-term rental income typically needs additional history and platform statements to be considered.
What this means for you: the stronger and better-documented your rental history, the more of that income can typically be used to qualify.
Written by
Simply Approved Mortgages Team
Licensed Loan Officers · NMLS# 2620881
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- Loan options your profile may fit
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Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.
Scenario summary
- Purchase price entered
- $412,000
- Down payment entered
- $20,600
- Estimated loan amount
- $391,400
- Estimated cash to close
- $14,300
- Programs reviewed
- 4
Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Why rental income matters for mortgage qualifying
Rental income can make a meaningful difference in a borrower's debt-to-income ratio, sometimes turning a marginal application into an approvable one. Whether you already own rental property, are buying a multi-unit home to live in and rent out the other units, or are converting your current home into a rental after you move, the way that income is counted varies significantly depending on documentation and history.
2026 update: Fannie Mae Announcement SEL-2026-08
On September 2, 2026, Fannie Mae issued Selling Guide Announcement SEL-2026-08, which restructured the conventional rental income requirements to improve how the policy is navigated and applied. Lenders were permitted to implement the rental income updates immediately and were required to implement them no later than November 1, 2026, so the version applied to your file depends on your application date and your lender's implementation. Lender and investor implementation may vary. See our dated guide, Fannie Mae rental income rules in 2026, for what changed and what to prepare.
Existing rental property: using tax return history
When you already own a rental property, underwriters typically look at Schedule E of your federal tax returns to see the net rental income or loss reported over the most recent one to two years. Depreciation and certain one-time expenses are often added back before calculating the usable income figure, since those are non-cash deductions rather than actual cash outflows.
The vacancy and expense factor
Because no rental property stays occupied 100% of the time and always carries some ongoing expenses, underwriters generally reduce the gross rent by a vacancy and expense factor before adding it to qualifying income. This factor recognizes that gross lease rent is not the same as reliable net income available to cover a mortgage payment.
New rental property: leases and rent schedules
If you are purchasing a new investment property or a multi-unit home, and the property does not yet have rental history on your tax returns, a signed lease agreement can often be used to document projected rent. For properties without a lease in place, an appraiser can complete a rent schedule, sometimes called a Form 1007, that provides a market rent estimate to support qualifying income.
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Converting your departing residence into a rental
Buyers who are moving and plan to keep their current home as a rental face additional scrutiny, because the property has no rental history yet. Lenders typically want to see documentation such as a signed lease, a security deposit, and evidence of sufficient equity in the departing residence before counting that projected income, and some programs require both the new mortgage payment and the departing payment to be considered together unless specific conditions are met.
Short-term and vacation rental income
Income from platforms associated with short-term or nightly rentals is generally treated differently than a traditional 12-month lease. Underwriters commonly want to see a longer history of platform statements or tax return reporting, since occupancy and nightly rates on short-term rentals can fluctuate more than a standard lease.
Accessory dwelling units and multi-unit properties
Rental income from an accessory dwelling unit or from additional units in a duplex, triplex, or fourplex can often be counted similarly to other rental income, provided the space is legally permitted for rental use and appropriately documented with a lease or appraisal rent schedule.
Documentation you should gather early
Because rental income documentation requirements vary by scenario, it helps to gather tax returns with Schedule E, current lease agreements, proof of security deposits, and, where relevant, mortgage statements on the rental property well before you apply, so your Simply Approved Mortgages Loan Officer can determine what will count.
How a Simply Approved Mortgages Loan Officer helps
A Simply Approved Mortgages Loan Officer can review your specific rental history or lease documents early in the process and let you know which income figure is likely to be usable for qualifying under the loan program you are considering, before you make an offer.
Percentages and figures referenced here, such as vacancy factors, are general and illustrative; not a quote, lock, offer, or commitment to lend. Actual qualifying calculations depend on your loan program and documentation.
Check where pricing sits before you decide
Review current rate context, then start a request so your own credit, income, and property details drive the numbers. Illustrative only — not a quote or commitment to lend.
How rental income is documented and counted toward qualifying
Rental income can offset or add to qualifying income, but the rules differ depending on whether the property is already owned, newly acquired, or the borrower's current residence being converted to a rental.
| What it is | How it actually works | Published by |
|---|---|---|
| Existing rental property with a tax history | Rental income on a property owned for a full tax year is generally documented with Schedule E from federal returns, with depreciation and certain one-time expenses added back before averaging. | Fannie Mae Selling Guide |
| Newly acquired rental property | For a property just purchased or without a full year of Schedule E history, income is typically documented with a current lease and either Fannie Mae Form 1007 or Form 1025 rent schedule completed by the appraiser. | Fannie Mae Selling Guide |
| Percentage of gross rent used | When using a lease or appraisal rent schedule rather than tax returns, underwriting generally applies a haircut to gross rent — commonly 75 percent — to account for vacancy and expenses before offsetting the housing payment. | Fannie Mae Selling Guide |
| Converting a primary residence to a rental | When a borrower is moving and converting their current home to a rental, specific requirements around equity, lease documentation, and reserves apply before the rental income can offset the departing mortgage payment. | Fannie Mae Selling Guide |
| Freddie Mac follows a comparable framework | Freddie Mac similarly relies on Schedule E, lease agreements, or appraiser rent schedules depending on the property's history, with its own specific offset and add-back methodology. | Freddie Mac Single-Family Seller/Servicer Guide |
| FHA rental income rules | FHA allows rental income from existing or prospective rental units to be counted following its own documentation and percentage-offset requirements, which can differ from conventional guidelines. | U.S. Department of Housing and Urban Development, Handbook 4000.1 |
| VA rental income rules | VA underwriting permits rental income to be counted toward residual income and qualifying, subject to its own documentation and continuance standards, including specific treatment when a veteran is renting out a departing residence. | U.S. Department of Veterans Affairs, Lenders Handbook (VA Pamphlet 26-7) |
| Short-term rental income treatment | Income from short-term or vacation rental platforms generally requires a longer, more conservative documentation trail than standard long-term lease income, and not every program accepts it the same way. | Lender program guidelines (vary by investor) |
| Ability-to-repay still governs the file overall | However rental income is documented, the lender must still make a reasonable determination of the borrower's ability to repay the total obligation. | Consumer Financial Protection Bureau, Regulation Z ability-to-repay rule (12 CFR 1026.43) |
Program parameters above are published by the agencies and enterprises named in the right-hand column and can change. They describe program rules, not an offer; eligibility, terms, conditions, and availability vary by borrower, property, lender, loan program, and state, and all loans are subject to lender underwriting and approval.
Why the documentation path depends on the property's history
Underwriting treats a property with a full year of tax returns very differently from one just placed under contract, because the evidence available is different. On an owned rental with a Schedule E history, the tax return shows what actually happened — real rent collected, real expenses paid, real vacancy experienced — so the underwriter can average that documented net figure, adding back non-cash items like depreciation that do not affect actual cash flow.
A property being purchased has no such history, so the lender substitutes the appraiser's professional opinion of fair market rent, captured on a standardized rent schedule, or the actual lease if one already exists with a tenant in place. Because that is a projection rather than a documented outcome, underwriting applies a percentage haircut — commonly 75 percent of the figure — to build in a cushion for vacancy and expenses that have not yet been proven.
Converting your current home into a rental when you move
This is one of the more heavily conditioned scenarios in rental income underwriting, because the borrower is trying to have it both ways: keep the old mortgage payment out of the new debt-to-income calculation by offsetting it with rental income, while simultaneously qualifying for a new home. Investors generally require meaningful documented equity in the departing property, a signed lease, and evidence of the security deposit and first month's rent actually being collected, before allowing that offset.
Without meeting those conditions, the full payment on the departing residence typically stays in the debt-to-income ratio alongside the new mortgage payment, which can significantly change what a borrower qualifies for. Anyone planning this move should ask a loan officer to model both scenarios early, not after signing a purchase contract on the new home.
How rental income is documented by scenario
The right form and the right percentage depend on which of these situations applies.
| Type of income or evidence | How it is documented | Why it works for this product |
|---|---|---|
| Owned rental with a full tax year | Schedule E from the two most recent federal returns, with depreciation and certain non-recurring items added back. | Tax returns provide documented actual performance rather than a projection. |
| Newly purchased rental with an existing lease | Signed lease agreement plus an appraiser-completed rent schedule (Form 1007 or 1025). | Combines the contractual rent with an independent market check, then discounts for vacancy and expense risk. |
| Newly purchased rental with no lease yet | Appraiser rent schedule reflecting fair market rent for the area. | Provides an objective, third-party estimate when no tenant is yet in place. |
| Departing residence being converted to a rental | Signed lease, documented security deposit and first month’s rent, and evidence of equity in the property. | Additional evidence is required before the old mortgage payment can be offset rather than fully counted. |
| Short-term or vacation rental income | Platform statements or tax returns showing a documented history, subject to lender-specific rules. | Underwriters need a longer, verifiable trail before treating irregular nightly income as reliable. |
Documentation requirements vary by lender, program, and file. The list above describes what underwriting commonly accepts, not a determination about your income or your approval.
Using Schedule E history versus a lease and rent schedule
Which path applies is usually decided by the property's ownership history, not by borrower preference.
| Option | Usually the better choice when | What you give up |
|---|---|---|
| Schedule E documentation | You have owned the rental for at least a full tax year with returns filed. | Depreciation and expense add-backs require careful tax return analysis and can be more paperwork-intensive. |
| Lease plus appraiser rent schedule | The property was just purchased or converted and has no tax history yet. | Only a percentage of gross rent is usable, generally producing a more conservative qualifying figure. |
Get a written summary of your options
Tell us the scenario you are working on and a Simply Approved Mortgages Loan Officer reviews it against real program guidelines, with no obligation.
How this applies in Florida and Colorado
Florida. Florida’s active long-term and vacation rental markets mean many borrowers arrive with income from both types, and short-term rental income in tourist-heavy areas typically needs a longer documented history than a standard annual lease before it can be used, so borrowers relying on platform income should keep organized statements from day one.
Colorado. Colorado’s mountain resort towns see a large share of short-term and seasonal rental activity, and local short-term rental licensing or occupancy restrictions in some Colorado municipalities can also affect whether a lender is comfortable counting that income at all, so confirming local zoning and licensing status is a useful early step alongside the mortgage documentation.
Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado, so the two applications above are the ones we can act on for a consumer file. Business-purpose loan products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
How to prepare a rental income file before applying
Gathering the right documents up front avoids a scramble mid-underwriting.
- Identify which scenario applies. Determine whether the property has a full year of tax history, is newly acquired, or is a departing residence being converted.
- Pull the correct documentation. Gather Schedule E returns, or the signed lease and request an appraiser rent schedule, depending on the scenario.
- Confirm the offset method with your loan officer. Ask whether the lender will use documented net rent or a percentage of gross rent, and how that affects your qualifying debt-to-income ratio.
- Document deposits and lease execution for a departing residence. If converting your current home to a rental, gather the lease, deposit receipt, and equity documentation early.
- Model both scenarios if converting a residence. Ask for a side-by-side calculation with and without the rental offset so you understand the real impact on qualifying.
Mistakes that cost people money on this
- Assuming a signed lease alone is enough without the required appraiser rent schedule.
- Not realizing depreciation add-backs from Schedule E can meaningfully change the qualifying figure.
- Underestimating the documentation needed to convert a departing residence into offsetting rental income.
- Treating short-term rental platform income the same as a standard 12-month lease without checking lender rules.
- Waiting until underwriting to figure out which form or percentage applies.
- Ignoring local short-term rental licensing restrictions that could affect a lender’s willingness to count the income.
Is this the right move for your situation?
The honest answer depends on the file. These are the patterns we see on both sides.
Usually a good fit when
- You have documented rental history through tax returns or a signed lease.
- You are converting a departing residence and can document equity, lease, and deposit.
- Your short-term rental income has an established, verifiable track record.
Usually not the right move when
- You are relying on projected rental income with no lease or appraiser support.
- Your short-term rental operates in an area with restrictive or uncertain licensing status.
- You need the full departing-residence payment offset without meeting the equity and lease documentation requirements.
None of this is a determination about your file. A Simply Approved Mortgages Loan Officer can run your actual numbers and show you what your disclosures would say.
What you can do with this loan
Determine whether rental income can help you qualify for a larger loan amount.
Understand what documentation to gather before applying.
Plan for a vacancy factor reducing your gross rental income.
Learn what is needed to convert a departing residence into a rental.
Understand how short-term rental income is treated differently.
Pros & cons — honest tradeoffs
Pros — Pros & cons
- +Rental income can improve your debt-to-income ratio.
- +Multiple documentation paths exist depending on your situation.
- +Appraisal rent schedules can support new purchases without existing leases.
- +Established landlords benefit from straightforward tax return documentation.
- +Multi-unit properties can use rental income from other units.
Cons / watch-outs — Pros & cons
- −Vacancy and expense factors reduce the usable income amount.
- −Short-term rental income often requires a longer history to count.
- −Departing residence conversions require extra documentation and equity.
- −New landlords without tax return history face more scrutiny.
- −Underwriting guidelines vary by loan program and can change.
Compare loan officer compensation on your mortgage quote
Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.
A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.
Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.
Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.
Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Worked example
How this loan actually works — a full example
A borrower has a signed lease on a second unit of a duplex they are purchasing and wants to see how the rental income might be treated for qualifying.
Inputs
- Illustrative monthly lease rent
- $1,400
- Illustrative vacancy/expense factor
- 25%
- Usable monthly rental income
- $1,050
Calculation
- 1Step 1The borrower provides a signed lease showing $1,400 in monthly rent for the second unit.
- 2Step 2The underwriter applies an illustrative 25% vacancy and expense factor.
- 3Step 3The remaining $1,050 is added to the borrower’s qualifying income.
- 4Step 4This additional income is used to help offset the new mortgage payment in the debt-to-income calculation.
In this illustrative scenario, roughly $1,050 of the lease rent may be usable for qualifying, not the full $1,400, subject to program guidelines.
Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.
Purchase market update
What buyers should know this month
30-Yr Fixed · national avg
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15-Yr Fixed · national avg
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2026 buying power
Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125
Vacancy factor applies
Underwriters typically discount gross rent to account for vacancy and expenses.
History matters
Existing landlords generally rely on Schedule E; new rentals rely on leases or rent schedules.
Departing residence rules
Converting your current home into a rental has its own documentation requirements.
Compare a long-term lease, Section 8, and a short-term rental
The same house produces three different files depending on how you rent it. Enter your payment and your own operating assumptions, pick the county so the voucher column starts from the published Fair Market Rent, and compare what is left for debt service under each strategy. Every figure is an illustrative estimate, not a quote, lock, offer, approval, or commitment to lend, and none of it is a projection of what your property will earn.
Shared inputs
Published Fair Market Rent for this selection: loading… a month. HUD source
Lease and voucher assumptions
Short-term rental assumptions
Optional. We look up published market performance for the address and fill the nightly rate and occupancy below. You can edit both afterwards.
Short-term operating costs are usually the largest of the three strategies, and the gross figure alone is never the comparison.
| Strategy | Gross after vacancy | Net before debt service | Cash flow vs PITIA | Coverage ratio |
|---|---|---|---|---|
| Long-term lease12-month lease, market rent | $2,444 | $2,200 | $-200 | 0.92 |
| Housing Choice Voucher (Section 8)HUD Fair Market Rent × payment standard | $0 | $0 | $-2,400 | — |
| Short-term rentalNightly rate × occupancy | $3,705 | $2,297 | $-103 | 0.96 |
On the assumptions entered, short-term rental leaves the most income before debt service. That is arithmetic, not advice: the strategy a lender will actually underwrite depends on the documentation available, the program, and whether the use is permitted at the address.
Long-term lease
- What underwriting reads
- The executed lease or the appraiser rent schedule (Form 1007/1025), commonly the lower of the two.
- Income pattern
- One tenant, one renewal cycle a year.
- What to check first
- A single move-out takes the whole income to zero until it re-leases.
Housing Choice Voucher (Section 8)
- What underwriting reads
- The executed HAP contract plus the tenant portion, generally compared with market rent.
- Income pattern
- The agency portion is paid by the PHA on a set schedule; the tenant portion stays your collection risk.
- What to check first
- The unit must pass inspection, and the PHA has to find the rent reasonable before the contract starts.
Short-term rental
- What underwriting reads
- Twelve months of platform or property-manager statements, or a market revenue projection where a program accepts one.
- Income pattern
- Seasonal and event-driven; revenue can swing widely month to month.
- What to check first
- Local ordinances, HOA rules, licensing, and a landlord policy that does not cover nightly stays.
Next steps
Emailing your Rental strategy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.
Assumptions, methodology, and limitations
Each column starts from the income you enter, reduces it by the vacancy allowance you enter, then subtracts the operating-cost percentage you enter to reach net income before debt service. The voucher column starts from the published HUD Fair Market Rent for the county and unit size you select, multiplied by the payment standard percentage you enter. The short-term column multiplies your nightly rate by 30.42 average nights a month and your occupancy percentage. Coverage ratio divides net income before debt service by the monthly PITIA you enter.
Every figure is an estimate built from your own inputs and is not a quote, rate lock, offer, approval, or commitment to lend, and it is not a projection of income the property will earn. A Fair Market Rent is a published schedule, not an approved rent: the public housing agency sets the payment standard, must find the rent reasonable against comparable unassisted units, and must pass the unit at inspection before a contract begins. Short-term rental use may be restricted or prohibited by local ordinance or HOA rules, and requires insurance written for nightly stays. Lenders differ on which documents they will accept for each strategy and on how they treat vacancy and expenses, and program parameters can change without notice.
Results are illustrative estimates only and are not a quote, lock, offer, or commitment to lend. No rate, APR, or program approval is implied. Binding figures appear on your Loan Estimate. Eligibility, terms, and availability vary by borrower, property, lender, loan program, and state.
Related tools
Tools for a rental property file
Only the estimators that apply to this kind of file. Every output is an illustrative estimate built from figures you enter — not a quote, rate lock, offer, approval, or commitment to lend.
Business-purpose loans are for non-owner-occupied property only. Program availability, leverage and terms vary by state, property and program, and can change without notice. Simply Approved Mortgages LLC is a mortgage broker and arranges, but does not make, loans. Equal Housing Opportunity.
Rental income for mortgage qualifying FAQs
Answers to the most common rental income for mortgage qualifying questions, written by licensed loan officers.
Ask SAM anything about mortgages
SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.
Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.
Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Sources & Citations
- Fannie Mae — Fannie Mae Selling Guide, rental income requirements
- Freddie Mac — Freddie Mac Single-Family Seller/Servicer Guide
- U.S. Department of Housing and Urban Development — HUD Handbook 4000.1
- U.S. Department of Veterans Affairs — VA Lenders Handbook, VA Pamphlet 26-7
Sources: government and agency publications listed above. Simply Approved Mortgages LLC is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, or any government agency. Program rules change; the published source text governs.
Trusted government resources
These independent government resources can help you research mortgage programs, rates, and your rights before you apply.
Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.
How this page connects
Where this fits in the DSCR and investor financing library
This page sits inside our DSCR and investor financing coverage.
What most readers open next
- DSCR qualifying requirementsBecause coverage, reserves, experience, and entity rules in one place.
- The DSCR calculatorBecause to test coverage before you write an offer.
- The short-term rental analyzerBecause nightly-rate markets need a different income test than long-term rent.
- Financing voucher-occupied rentalsBecause payment standards and HAP contracts change how rent is documented.
- DSCR cash-out refinanceBecause the usual way investors recycle equity into the next purchase.
Explore the full guide
Keep reading — the rest of the buying playbook
Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.
Guide
Self-Employed Mortgage
See how other variable income sources are documented.
Read the guide →Guide
Debt-to-Income Calculator
Estimate how rental income affects your DTI.
Read the guide →Guide
DSCR Loans
An alternative loan type qualifying primarily off property rental income.
Read the guide →Guide
Airbnb Financing
More on financing short-term rental properties.
Read the guide →Guide
1099 Income Loans
Another income documentation path for non-W2 earners.
Read the guide →Guide
Mortgage Document Checklist
See the full list of documents typically requested.
Read the guide →Guide
Fannie Mae rental income changes
Upcoming updates to rental income qualifying rules.
Read the guide →Guide
DSCR loans
Qualifying on property cash flow instead of personal income.
Read the guide →Guide
Buying a second home
How second-home purchases differ from investment property purchases.
Read the guide →Internal library
Related mortgage guides across our library
Follow the next relevant guide for your scenario.
Purchase mortgages
Buying a home
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Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.
Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.
Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.
Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.
Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.
Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.
Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.
Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.
No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.
Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.
NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.
Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.