Confused about Taxes situation to get a new mortgage

[Rahul Gupta]

Hello,

I have filed for an extenrion on my 2021 taxes and want to apply for a second mortgage.

The only way i can qualify for it is by using my income from Airbnb, as my current W2 income will not work for getting another mortgage due to the DTI ratio.

My total income in 2021 from Airbnb was 20k but i also had expenses like the mortgage payment, Cleaning, maintenance etc of around 17k.

Do i not show the expenses and deductions on my tax return so that the income that shows from Airbnb is 20k?

Do they use gross or net income from Airbnb to qualify someone.

I also dont want to pay a bunch of taxes unnecessarily by not showing the expenses, and still qualify for the second mortgage.

Any suggestions will be appreciated.

Thank you

[Rahul Gupta]

@Jordan Moorhead I am really hoping to put down between 3- 5% in down payment and I believe that can only be done through a traditional bank. 

If I figure out what they see in the tax returns, things will be clear.