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Updated over 5 years ago,
Getting a mortgage with 30k W2 income
This is my financial situation:
30k income
Rental property (I own):
4k monthly rent
1.5k/mo PITI
Want to buy:
350k-400k property
4k monthly rent
I've used online calculators (for what they're worth) and they say I qualify. Also, another mortgage broker showed me how to calculate DTI ratio and I pass.
However, I emailed a mortgage broker recently and he said "not a sure thing". Is he just trying to cover himself, or am I at high risk of getting rejected? Is there something as I'm missing?