Will I qualify for another mortgage?

[Hung Dang]

Hey, I'm a new investor and I purchased a home about a year ago with the help of my dad. He cosigned on the house with me because the mortgage was more than I qualified for by myself. I've been saving up for a down payment on another property to house hack. I want to get this property on my own without my dad as the cosigner. I plan on renting out my current house and using the income to cover the mortgage. That should leave me easily a couple hundred extra every month. If that was the case, would I quality for another mortgage since the income from this property would cancel out the debt and hopefully reducing my DTI. I have not had the chance to talk to a mortgage lender, but if anyone could give me some insight it would definitely be appreciated!

[Theresa Harris]

Has your income increased or your debt decreased?  If you couldn't qualify for a loan on your own a year ago and nothing has changed, I'm not sure you'd qualify now.  Go and talk to the bank and find out.