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Updated over 5 years ago,
Buying New Home - Airbnb Income Not Factored into DTI
I'm working on going through the underwriting process for a mortgage on a new primary residence. One of my existing rentals is an Airbnb/VRBO rental and I was told today that if there isn't a long-term lease in place, the underwriters will completely exclude the income when calculating the debt to income ratio. This is new to me, and I'm wondering if other people have seen this before. The loan is a high balance loan because it is a little over the limit for a conventional loan. Is there any way to push back on this and get them to count it somehow?
It isn't a deal-breaker for my transaction yet, but I'm concerned about it becoming one, potentially.
Thanks in advance for any ideas or suggestions.