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Updated over 3 years ago,

User Stats

216
Posts
132
Votes
Nick Shri
Pro Member
  • Rental Property Investor
  • Virginia
132
Votes |
216
Posts

How long before banks/lenders consider rental income towards DTI?

Nick Shri
Pro Member
  • Rental Property Investor
  • Virginia
Posted

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.

  • Nick Shri
  • Loading replies...