How do rental properties factor in?

Credit and mortgage advice Forums Home Mortgage How do rental properties factor in?

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      My fiancé and I are hoping to buy something this spring.

      I bought my first house in Virginia, kept it for two years and upgraded with my ex in 2007. The house is in my name only because his credit wasn’t great. We split in 2008, I moved out west and he agreed to stay and cover the mortgage (we are on good terms, luckily)….I claim the property as a rental on my taxes.

      What, if anything, will this mean when my fiancé and I look in the spring? Is it seen as extra income, or a wash since it just pays what’s owed monthly? Payment history is perfect, and the ex has no intentions of moving.

      Just to clarify, I don’t really care that the rental payment counts as additional income….I am more curious if it will ding me on the DTI.

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