Airbnb Income for DTI and DTI double counting

[Ezra Benjamin Harris]

I have a condo in Florida I use for Airbnb. It was down most of 2023 due to Hurricane Ian in 2022. I had a tax return loss of 21k including all expenses PITI+HOA in 2023. In 2024 I reported 30k profit after all expenses. YTD this year I had made 25k so far after all expenses.

Situation is this:

I applied for a HELOC on my primary home. They calculated the rental income as $1400/mo. But then they added the PITI+HOA to my DTI calculation (which was $3400 a month) causing the Airbnb to be a net negative of $2700 to my DTI (50% of rental income being $700, then them subtracting $3400)

Is this correct? I filled the Fannie Mae Rental worksheet using my 24' data and it had it as $6500 before PITI+HOA, $3200 after, I'm not sure how they came up with this. But it's affecting my ability to open the full line I was looking for. Anyone have advice on this?

[Patrick Roberts]

This isnt a FNMA loan so the income wont be calculated in that manner. Most HELOC lenders have an internal method of scrubbing income because that kind of loan lives on their balance sheet. You'll have to ask the lender about how they arrived at the figures and what can be done about it.