HELOC - NYC - 2nd lien - high DTI due to real estate income/debt deflated

[Cristiano Bell]

Hi everyone,

I am looking for a HELOC on my primary residence in NYC (not listed as such in the W2). I have a salary and a good amount of real estate income.

So far I encountered issues as my real estate NET income looks like $0 because of depreciation, and so the DTI looks inflated since I have the corresponding real estate debt.

I am looking for 300k HELOC on $1.2M property with $660k mortgage at 3%. Anyone has any suggestion? I need a lender with experienced and flexible underwriters.

Thank you,

Cristiano