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Real estate tip: Rental unit may help qualify for loan

What is the value of an in-law unit or granny flat?

If it is legal, it can be very valuable, especially when housing supply is tight. If you are on the edge of qualifying, it may help you qualify. However, it depends on your lender. Some lenders may only count part of the rental income, or none of it, in qualifying you for a loan. If the unit is not legal, which is the case with most in-law units, most lenders will not consider rental income in qualifying you for a loan. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....

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