Home Equity Loan Fixed Rate, not HELOC for owner-occupied duplex

[Jim Kinzeler]

Anyone doing this loan?  And how will your underwriter apply the income on the 3/2 rent that has been on tax returns for over 2 years? Will they count that rent and rent on any other properties I have straight off my tax returns for prior 2 years at 100% of what I show on tax return?  Or apply a 25% vacancy (different lenders do this differently. I need to know this for certain, don't just tell me something unless you know it from the underwriter. )  Equity in prop is 600-700k, but only need 100k plus to replenish the 100k I spent on some repairs this year. I was going to sell but didn't, now wld like to get that much back out. 

Also how does the underwriter apply that income? Does he/she apply it towards the 1st mortgage and then DTI the proposed 2nd against my income. OR add that rent to the total income, and DTI the 1st and 2nd together? and WHAT DTI do you need? with maybe a 740-789 FICO (I don't know cuz I am paying off some CC's to bring the FICO back up, but one of the credit agencies didn't bring it back up as much as the other I usually have an 800 FICO w no debt. (the reason I need to know all this is 2021 taxes were not that high as some tenants still not paying rent from Covid, so I am trying to see so pls don't say you can do this loan unless you talk to your underwiter first and find out the above questions.)