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Updated over 1 year ago,
Need help figuring out buying power
Hi all - I just went through a lengthy process with a lender to figure out how much they would lend on an investment property based on my income and other factors. They gave me a qualifying income range but I'm not sure they factored in the money that the investment property could generate. They didn't ask for our retirement or investment accounts either.
I need someone who can take the time with me to spell out what we can do lending-wise. Our goal is to find a property with an existing home with additional acreage that can serve as a multi-cabin STR property. I'm not sure where that location will be just yet as we are still researching.
Thanks to anyone willing to help.