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Updated over 2 years ago,

User Stats

22
Posts
1
Votes
Garrett Hollenbach
Pro Member
  • Rental Property Investor
  • Salisbury, MD
1
Votes |
22
Posts

Do "2nd Homes" affect Debt-to-income ratio?

Garrett Hollenbach
Pro Member
  • Rental Property Investor
  • Salisbury, MD
Posted

Hello BP community, 

Here is my scenario: 

1. I purchase a condo as a "second home" with a 10% downpayment

2. live in it for 2 weeks out of the year (as stated by law where I live)

3. Then rent it as a STR for the remainder of the year and turn a solid profit of 10k.

When I apply for a new loan for my next condo, does the income from the first condo (10k stated above) factor in to my Debt to income ratio? Or, because I purchased it as a "second home" and not an investment property, are those profits, on paper, null and void? 

Thanks! 

  • Garrett Hollenbach
  • Loading replies...