Financing Requirements for a Bay Area Investment Property

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    I have purchased and financed investment properties in other places (including Vancouver BC) but am not up to speed on what banks are requiring to lend money on a rental condo in San Francisco. * In the past the amount I was able to borrow was determined solely on the basis of the rental revenue the property would generate with a upper limit on the loan-to-value ratio (e.g., about 65%).
    1. *What is the current limit on load-to-value ratio?
    2. *Can the property be financed solely on the basis of rental revenues or will the bank want to take into account my current income?
    3. *If current income is also considered, how so? *What are the parameters? *
    Initially, I’m planning on renting a place to live on a temporary basis until I find something to buy. *Rather than break my lease and immediately move into it I would prefer to rent out the property until I decide whether I want to retire in San Francisco or in Vancouver. *
    Any thoughts? *

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