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Updated over 3 years ago,
How long before banks/lenders consider rental income towards DTI?
BP'ers - here is a scenario.
I am pre-approved $250K. I buy 1 property worth $150K - I will name this property my NEW baby. This means my debt has increased after closing on NEW. I find another property worth $200K that is amazingly awesome. I want to name this property NEWER.
Question - how can I leverage my income from NEW to apply towards NEWER? How do the lenders view this scenario? I would love to hear some ways to go about this approach.
TIA.