Where do I go next?

[Brianna H.]

Does anyone have any advice on what my next step should be? I just bought my first rental house and I am addicted now. Here are my stats:

Primary House: $610/ (mortgage) + $385/ (taxes/insurance)

-Home Value: $160k, Balance: $65k

-15 yr loan, 2.9%

Rental House: $400/ (mortgage) + $350/ (taxes/insurance) <- no escrow

-Home Value: $130k, Balance: $75k

-30 yr loan, 4.5%

-Rent: $1500/ (have only received 1 months rent so far)

My husband and I bring home $6750/ and have excellent credit. How should we approach buying our next house? I haven't actually talked to a mortgage lender, but the estimates for how much I can borrow on the internet range from $81k-$240k. Are taxes/insurance counted against you when applying for a loan? Do banks include rent profit less than 2 years? I would like to close on another house within a year. Thanks!