Do rental mortgages affect primary mortgage qualifying amount?

[Andrea Castor]

We are currently in the position that we would like to buy land (2-5 acres) and build around the $350-$400k range. We currently own one rental (Value $90k loan $36k, $350/mo cash flow) and have approx $45k cash to buy one or two more. We have our eye on a few around $100k, with $400/mo cash flow (assuming 20% down 30 yr fixed mortgage) and 20% cash on cash return. We keep freaking out that it'll ruin our chances of qualifying for land/construction loan. Without these rental properties, I dont thinI we'd have issue. Gross income 4x PITI, 800+ credit scores, no other debt including student loans.

Is this something we can ask our bank? The place we typically use has $250 closing costs but is extremely conservative. That's prob my biggest worry is getting my dream plot lined up and not qualifying because we are "too far extended."