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Updated over 4 years ago,
Do any lenders have higher loan limits on personal home buy?
We are looking to move our family into a neighboring city in the next year. Purchase price 400-500K.
With rates as low as they are I would love to do a conventional mortgage and fiance as much as they allow to keep cash in house and we can afford the payment. After sending my returns to a broker I worked with in the past, they are only coming up with 6100/month income which is just not the case. The low number is mostly due to large real estate write offs from years of BRRRR investing.
My tax returns are 72 pages long so I am wondering if different lenders will come up with different numbers. I have a rental business (36 rentals), flipping business, internet retail business, and my wife has her real estate licence and buys/sells our properties. Because my wife is now a "real estate professional" I am able to apply all the real estate "losses" to the internet business. This great on the tax side but has hurt my ability to get the loan we need.
I could sell some high equity rentals and come up with 200K down but I would hate to do that when I can borrow at such low rates.
Are there any known lenders who offer higher limits?