Primary house renting to buy a new property.

[Sravan Gundu]

Hi All,

I live in New Jersey in a home that I have purchased in 2021. I intend to buy a new home in Orlando and move there in Mid 2024 by renting the existing home. While talking to my loan officer this morning, he told me that there is a new rule going to come that will restrict him in using my current home's rental income in the DTI calculations as I'm an inexperienced landlord. That means, my current home rent will not be considered as income. This will disqualify me getting approved for new loan based on my current income (excluding my current home's rent). I searched the web and did not find any traces of this new rule. Can someone please advise if such a rule is coming or not?