Rental income can be central to an investor refinance, but lenders do not all document or calculate it in the same way.
Lease rent and market rent
A program may review an existing lease, an appraiser's market-rent opinion, operating history, or a combination of sources.
Income is not the whole picture
Taxes, insurance, association dues, debt service, vacancy, and other qualifying expenses may affect the property analysis.
DSCR and other structures
DSCR programs compare qualifying rent with qualifying debt service. No-ratio or conventional paths may apply different methods and requirements.
Borrower factors can still matter
Credit, assets, reserves, ownership, experience, citizenship or residency, and other documentation may remain part of the review.