ATL lenders who account for new rental income in ratios

[Aaron Shoemaker]

Hi Atlanta folks,

I'm looking for bank recommendations in the ATL metro area.

What I need are lenders who will count new or expected rental income in their debt/income ratio calculations.

Context is:

• I am renovating 1 property (rental)
• Just made an offer on a new primary residence
• Intend to keep our current primary residence as a rental

So, I've talked to a large national lender who is counting the full PITI of all 3 properties against us, with $0 rental income figured in the equation. That makes our debt service / income ratios above normal limits.

They won't include any rental income until it shows up on tax returns (1+ year from now)

But, both the rental and current primary are in good markets and will rent very quickly (if priced well). 

Please let me know any recommendations for banks who are savvy with including rental income in advance or at least once a lease is signed and deposit in hand. Thank you!

Aaron