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 over 6 years ago,

User Stats

5
Posts
1
Votes

Higher loan amount: high salary w/ debt vs low salary no debt

Posted

Hello BP,

My brother and I are planning on purchasing a multifamily with an FHA loan to house hack. My brother has a constant monthly salary (web developer), whereas my monthly salary is more random (restaurant server). My brother also has debt, whereas I am debt-free. My question is which of us should apply for the loan to get a higher loan amount.

Me: Monthly gross income: $2500

Computed Debt Ratio: 0 (no debts)

Credit Score (Transunion): 625

My Brother:

Monthly gross income: $5000

Computed Debt Ratio (using https://www.mortgagecalculator.org/calcs/debt-ratio.php): Frontend 19.5%; Backend 45.66%

Credit Score (Transunion): 667

So which of us should apply for the loan to get a higher amount? Also, would either of us cosigning for the other help?

Loading replies...