They Include The Cost But Disregard Income

[Adah N.]

Looking to pull a HELOC from my primary home. Lender includes PITI from rental properties in DTI but disregards income from rental properties. They say properties do not have 2 years tax records. How have you gotten around this requirement?

[Matt Hurley]

Find another lender, every time I've qualified for a loan or refinanced I speak to minimum of 4 loan officers before moving forward (once purchase I spoke with 14). I don't have any specific lender recommendations, but I've negated PITI with 3 months proof several times in the past. I haven't applied for a loan in a year and a half though, so things may have changed. Bare minimum, try to convince them to remove the PITI from DTI (vs. include the whole income) which should help a lot.