Raise the rent side
Lenders count the lower of the lease and the market rent. Both have room to improve.
- Check whether current rent is below market and plan a renewal increase before you apply
- Add a bedroom, a finished basement, or a legal accessory unit where zoning allows
- Charge for parking, storage, or pet rent and document it in the lease
- Lease a vacant unit before the appraisal so a signed lease is on file
Lower the payment side
The payment includes four moving parts, and each can be tuned.
- Put more down. A smaller loan lowers principal and interest
- Ask about an interest-only period, which can cut the payment during that time
- Shop insurance. Rental policies differ a lot in price
- Appeal an inflated property tax assessment if one applies
Improve your credit and file
A higher credit score unlocks better pricing, which lowers the payment. Paying down card balances before you apply is the fastest move. Avoid opening new credit lines in the weeks before an application.
Know your fallback
If you land between 0.75 and 1.00, some programs still work with a larger down payment. They are not common and they cost more. Ask your specialist before you drop a deal that sits close to the line.
This article is general information and not financial, tax, or legal advice. Loan terms vary by lender and change over time.