rental income letter

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Joined: Wed Feb 10, 2010 9:04 pm

rental income letter

Postby lindabinbin » Wed Feb 10, 2010 9:13 pm

Hi, otto

I have short question about rental income letter

If I want my builder issue rental income letter and submit to my lender, what the letter should be like?

I checked online and found template of rental income letter, but it looks like documents applied for established house not for building house!

Do you have any suggestion!

Thank you

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Otto Dargan
Mortgage Specialist
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia

Re: rental income letter

Postby Otto Dargan » Thu Feb 11, 2010 8:26 am

Lenders will not accept a rental letter from a builder. It must be from a licensed real estate agent. The same rental income letter template can be used for properties to be built. It just has to say "I have discussed the details of the proposed dwelling at 1 ABC St Sydney NSW 2000 with your customer John Smith and estimate that when complete it will achieve an estimate market rental of $300 / week."
Otto Dargan
Mortgage Broker
P | 1300 889 743
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