Yeah, I’ve seen lenders get really picky about this. Even with a signed lease in hand, some underwriters just aren’t comfortable unless there’s actual rent hitting your account. It’s frustrating, especially when you know the property will cash flow. I always tell clients—don’t count on that projected income until you see it in writing from the lender. Every bank seems to play by their own rules... sometimes it feels like you need a crystal ball to predict what they’ll accept.
It’s wild how much this varies from lender to lender. I’ve run into the same thing—one bank wanted six months of rent deposits before they’d even consider counting it, while another was fine with just a signed lease and a deposit slip. It’s like there’s no playbook.
If you’re trying to get that rental income counted for DTI, here’s what’s worked for me (after a few headaches):
1. Get the lease signed and collect at least the first month’s rent—preferably via check or direct deposit so there’s a paper trail.
2. Make sure the funds hit your account before you apply or re-apply. Some lenders want to see a couple months’ worth, but even one can help.
3. Gather everything: lease, proof of deposit, maybe even a letter from the tenant if you can swing it.
4. Ask the lender upfront what their exact requirements are. Saves a ton of back-and-forth.
It’s annoying, but sometimes just having all your ducks in a row makes them more comfortable. Still, I wish there was more consistency... feels like you need to be part detective, part accountant just to get through underwriting.
Make sure the funds hit your account before you apply or re-apply. Some lenders want to see a couple months’ worth, but even one can help.
Honestly, you nailed it with the “part detective, part accountant” bit. It’s wild how much legwork it takes just to prove money’s coming in. I’ve had lenders ask for things I didn’t even know existed. But yeah, having every scrap of documentation ready does seem to make them less twitchy. It’s frustrating, but you’re definitely not alone in this maze.
Yeah, it really does feel like you need a spreadsheet for every dollar that moves. I once had to dig up a random Venmo transfer from months back because the underwriter flagged it. It’s a pain, but I guess it’s just part of the process these days. Hang in there—it does get easier once you know what to expect.
Yeah, it really does feel like you need a spreadsheet for every dollar that moves.
Totally get this. I once had an underwriter question a $50 refund from a hardware store—just because it didn’t match the usual pattern. It’s wild how granular they get now. Makes me wonder if anyone actually breezes through underwriting anymore...