Primary residence loan questions

[Josiah Collins]

Hey everyone!

So my wife and I are currently under contract in a home that’s going to be our primary residence. We got preapproved to buy are new home without making it contingent upon selling our current home. We are planning to sell it as soon as we move out, but we wanted to make our offer stronger and not have to worry about the timing of selling one then moving into the other.

Now that we are actually under contract, the lender is saying there are concerns because of a commercial rental property that we own. The gross rents on the rental are currently about $5200/month and the mortgage is $2390/month. It is a commercial loan. From everyone’s experience, should this really be a factor? He had already preapproved us knowing about this property and our current income etc.

Our current DTI is pretty low and even if we added the new mortgage along with our current home's mortgage, but not factoring in income or mortgage from the rental, our debt would be about 37% of gross.

Any thoughts? We are only 4 days in our 30 days, so I could potentially switch lenders still. Just wanted to get some opinions from everyone here. Thanks!