Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago,

User Stats

1
Posts
0
Votes
Davey Rowe
  • Real Estate Agent
  • Virginia
0
Votes |
1
Posts

Can I qualfy For a 3rd Mortgage?

Davey Rowe
  • Real Estate Agent
  • Virginia
Posted

New to this site, and I’m not sure if I'm posting in the right place.

I own two houses, both single family. I have to move for work in the next year and I was wondering if I would be able to qualify to buy a third property in the new city. Right now I rent one house, and live in the other. Below are my numbers; I'm not quite sure how my two existing mortgages are treated with the DTI ratio when trying to qualify for a third. Any insight would be great! I have about 6-12 months to make some changes if it'll help my chances. I was thinking a FHA loan for the third house. I would really like to qualify for 500k, but I could probably work with less.

Revolving Monthly Debts (Shown on Credit Report): $2.607.89

Monthly Income: $8,378.83

Monthly Mortgages for Current Properties: #1 $329.86 and #2 $927.67

Rental Income: #1 $950.00 & #2 $1,300 (Estimated)

Loading replies...