In this insightful clip from EYL, MG The Mortgage Guy joins Troy Millings and Rashad Bilal to break down creative real estate hacks that can help you qualify for a mortgage and scale your income—especially if you’re not navigating the process alone! Discover how you can leverage roommate (or "border") income, even if it's a boyfriend, girlfriend, or college roommate, to boost your mortgage qualification. MG explains Fannie Mae’s Homeready program, which lets you use documented rental payments from roommates to strengthen your application, as long as you’ve collected proof over at least 9 of the last 12 months. The clip dives into the vital importance of documentation—leases, payment records with memos clarifying "rent," and making sure everyone’s on board. They also discuss common scenarios, like living with a partner (who isn’t on your lease), and how putting everything in writing can unlock significant buying power, all while keeping your finances and future flexibility secure. Graduating college soon? MG reveals a little-known hack: you can use your college history as work history for mortgage qualification, and if you’ve collected rent from roommates (with all the right paperwork), that’s extra income to help you buy your first home right after graduation! For those interested in maximizing every opportunity, they touch on leveraging an ADU (Accessory Dwelling Unit) for long- or mid-term rental income, and how areas near hospitals, airports, or New AI data centers can create lucrative mid-term rental plays—ideal for traveling professionals, corporate consultants, or construction workers on multi-month assignments. Whether you have a pool to rent out (think Swimply), extra space in your home, or are just getting started, this strategy-packed clip is a must-watch for anyone looking to house hack, generate additional income, or simply make smarter real estate moves. Hit play to learn how better documentation, teamwork, and a little creativity can make real estate investing more accessible than you ever thought possible! *#RealEstate#HouseHacking#MortgageTips#EYL#RoommateIncome#ADU#HomeBuying#FinancialFreedom#Swimply#Investing#CollegeHacks#WealthBuilding*

<p>In this insightful clip from EYL, MG The Mortgage Guy joins Troy Millings and Rashad Bilal to break down creative real estate hacks that can help you qualify for a mortgage and scale your income&mdash;especially if you&rsquo;re not navigating the process alone! Discover how you can leverage roommate (or "border") income, even if it's a boyfriend, girlfriend, or college roommate, to boost your mortgage qualification. MG explains Fannie Mae&rsquo;s Homeready program, which lets you use documented rental payments from roommates to strengthen your application, as long as you&rsquo;ve collected proof over at least 9 of the last 12 months. The clip dives into the vital importance of documentation&mdash;leases, payment records with memos clarifying "rent," and making sure everyone&rsquo;s on board. They also discuss common scenarios, like living with a partner (who isn&rsquo;t on your lease), and how putting everything in writing can unlock significant buying power, all while keeping your finances and future flexibility secure. Graduating college soon? MG reveals a little-known hack: you can use your college history as work history for mortgage qualification, and if you&rsquo;ve collected rent from roommates (with all the right paperwork), that&rsquo;s extra income to help you buy your first home right after graduation! For those interested in maximizing every opportunity, they touch on leveraging an ADU (Accessory Dwelling Unit) for long- or mid-term rental income, and how areas near hospitals, airports, or New AI data centers can create lucrative mid-term rental plays&mdash;ideal for traveling professionals, corporate consultants, or construction workers on multi-month assignments. Whether you have a pool to rent out (think Swimply), extra space in your home, or are just getting started, this strategy-packed clip is a must-watch for anyone looking to house hack, generate additional income, or simply make smarter real estate moves. Hit play to learn how better documentation, teamwork, and a little creativity can make real estate investing more accessible than you ever thought possible! *<a href="https://www.youtube.com/hashtag/realestate">#RealEstate</a> <a href="https://www.youtube.com/hashtag/househacking">#HouseHacking</a> <a href="https://www.youtube.com/hashtag/mortgagetips">#MortgageTips</a> <a href="https://www.youtube.com/hashtag/eyl">#EYL</a> <a href="https://www.youtube.com/hashtag/roommateincome">#RoommateIncome</a> <a href="https://www.youtube.com/hashtag/adu">#ADU</a> <a href="https://www.youtube.com/hashtag/homebuying">#HomeBuying</a> <a href="https://www.youtube.com/hashtag/financialfreedom">#FinancialFreedom</a> <a href="https://www.youtube.com/hashtag/swimply">#Swimply</a> <a href="https://www.youtube.com/hashtag/investing">#Investing</a> <a href="https://www.youtube.com/hashtag/collegehacks">#CollegeHacks</a> <a href="https://www.youtube.com/hashtag/wealthbuilding">#WealthBuilding</a>*</p>

Welcome to The Earn Your Leisure Podcast. Rashad Bilal and Troy Millings will be your host. Earn Your Leisure will be giving you behind the scenes financial views into the entertainment and sports industries as well as highlighting back stories of entrepreneurs. We will also be breaking down business models and examining the latest trends in finance. Earn Your Leisure is a college business class mixed with pop culture. We blend the two together for a unique and exciting look into the world of business. Let’s go!! #earnyourleisurepodcast

Earn Your Leisure

How to Use Roommate & Rental Income to Qualify for a Mortgage

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/433592be-9419-42ab-9385-b38801248d16/transcript