When can you rent your home before buying another?

According to a mortgage broker on Trulia.com, you may only convert an existing home to a rental home if you have at least 30% equity. If you do have 30% equity you will need to provide a fully executed lease and the existing mortgage payment will count toward your debt-to-income ratio – unless you are paying cash for your next purchase.

Anyone have experience?

Be sure to consult with a CPA on this.

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