Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago, 07/16/2019

User Stats

90
Posts
9
Votes
John T.
  • Investor
  • Tamuning, Guam
9
Votes |
90
Posts

VA loan 4-plex purchase/househack HELP

John T.
  • Investor
  • Tamuning, Guam
Posted

VA loan qualified. 3 years landlording (tax return) experience. Looking at a 4-plex to owner-occupy. Our DTI is too high, bank is saying the subject property is roughly 100K over our borrowing power. We have about 130K liquid from a property we sold last year. The bank won't consider the rent from 3 of the 4 units nor rent from our SFR primary residence (which we plan to rent when we move out) to offset our income as it is only considered "projected." Although we would be living for free in the 4-plex if this deal went through (3 units pay 4plex PITI and primary house rent pays its own PITI), we can't seem to make it work in the banks eyes.

We have no qualms using majority or all of our cash in the deal, but it would defeat the purpose of leveraging the VA loan. We would also need to have 6 months reserves.

Any thoughts on how to get from point A (abovementioned) to point B (living in 1 unit at the 4plex with our house rented)?

Thanks for any insight.

Loading replies...