Investment Property Loan - Rental Credit

[Steve L.]

Hello All,

How does everyone finance their investment properties? I was told by my lender that rents received are no longer credited on your debt to income ratio. In order for me to buy another property, my lender said I would need to be able to cover the payments for my two current mortgages as well as the new one on my D/I.

Is this true? If I have cash for a down payment I can't get a 3rd loan without qualifying for all 3 mortgage payments?

Thanks!