CT HELOC & Loan for owner occupied Multi-Family

[Dan Green]

Hey everyone. This is kind of a 2 parter.

I'm looking to do a HELOC on my current home in hopes of using some or all of it towards the down payment of my hopefully soon to be 2nd home. It's a 4 family that I plan on living in 1 unit while renting out the other 3. I figure the property is a full gut/rehab. I just need some guidance on where to start. I currently have a mortgage lender/broker that's supposedly giving me incorrect advice for financing based on what he's determined my debt to income ratio to be (102%).

I'm also looking to refinance the property as an owner occupied residential loan once everything's fixed & rented out.

Any help would be greatly appreciated. Thank you.