I was wondering if i can claim rental income to help get a second home/ mortgage loan?

Hello Louie,Can you please be more specific about the rental income? Specifically, do you collect rent on an investment property or other unit/units of your primary residence? Do you have someone who lives in your home and pays you rent? If you are more specific I am happy to assist you.

You can not claim "room rent", unless you have reported it for 2 years on your IRS 1040 Schedule E. If that reported income is from another property, you can claim 75% of the gross rents.

More info on the source of rental income is required to answer. Also, has it been claimed as rental income on your federal tax returns?

As others are saying, it depends on the details, your qualifications overall and the type of loan (conforming or jumbo). How long you've been receiving it and whether it shows on your tax return. 2 years isn't an absolute requirement but it is helpful.

Details, Details, Details.. the rules are different if you have rental experience or not, and it also varies based on the type of property your purchasing (Single Family Home, duplex, 4plex, etc), and residency type, such as purchasing a 4plex, and living in one of the units would be treated as "owner occupied" for some lending programs rather than "Investment" which carries higher down payment requirements and higher rates, fees.. Talk to a local mortgage broker and let him look at your complete profile... only then will you know for sure.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com