All Forum Posts by: Daniel H.

Ahh, okay, I just wrote the equation backwards on the dicision part. So basically more like the first equation. Thanks a lot for your detailed explanation.

I have a question about DTI calculations. I have my primary residence and also a multi-family rental property. I know my DTI not including the rental property but I am not sure how to factor in the rental property. Do I subtract PITI for the rental from the rents and add that income to my existing financials or do I add the PITI and rents both and then calculate PITI.

Ex.
W2 Income+ (Rental Income - Apartment PITI) /Condo PITI

OR

(W2 Income + Rental Income) / (Condo PITI + Apartment PITI)

Looking for some advice on acquiring my 2nd and 3rd investment properties. I currently have my primary residence and also a 6 unit property with a commercial mortgage. Looking to buy another property soon and maybe a third as well if possible. I am looking for 3 family apartment buildings.

I am planning on getting an "owner occupied" loan for the next building so I can put down less cash. (I have cash but would prefer to put less out for down payment) 95% LTV would be great if I could get it. My question is, if I decide to do the owner occupied thing again for the 3rd property, could it be a problem that my LTV is high on the other mortgage? I was planning on using a different lender so that they do not wonder why I moved out of the other property so quickly. (*I understand that I am taking a risk by owner occupying to secure the loan and then quickly leaving for another building and I can deal with that*) I am also planning on using a HELOC that I have obtained from my primary residence to finance some of the down payment.

Any advice or thoughts would be greatly appreciated.