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Updated over 4 years ago on . Most recent reply

User Stats

10
Posts
37
Votes
Jefferson Mcvicker
  • Rental Property Investor
  • Lima, OH
37
Votes |
10
Posts

Thinking about getting a loan

Jefferson Mcvicker
  • Rental Property Investor
  • Lima, OH
Posted

Hello, I need some help. I’m wanting to pull equity out of both of my houses paid cash for both. I’m just not sure if I can do it, do I have to have tax returns from both properties? Because I will not have the tax return until next year. I have a 3 year job history I was wondering if they will just go off of that. He asked for rent roll. Also the VP of the bank said he is willing to work with me. Please help me.

Most Popular Reply

User Stats

11
Posts
18
Votes
Cory Childs
  • Janesville, WI
18
Votes |
11
Posts
Cory Childs
  • Janesville, WI
Replied

@Jefferson Mcvicker my lender will just use 75% of lease less PITI for properties that I purchased recently and are not yet on tax return. I think that's pretty common. So it shouldn't be a problem if your DTI works out with those numbers.

Cory

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