All Forum Posts by: Jonathan Warden

I am semi-retired and living off my assets, but my lack of regular income excludes me from refinancing any of my real estate assets at the current low rates and high property valuations. I have two rentals and my primary also produces rental income. All have mortgages from 3.875%-4.5%. Can anyone recommend any local banks that might considering refinancing these into a portfolio loan at lower rates than this?

This is my first post here. I have appreciated all the good Q and A in this site for some time. 

I am looking to open up one or more rainy-day HELOCs before leaving my job and taking a couple years off. The problem is DTI.

I have two rental properties, worth about 1.1 milllion total according to redfin, with 610k total in mortgages, bringing in 4750/month total rent, with good rental history.

I have a primary acquired in Jun 2018, that I just refinanced (at a screaming 3.875), appraised at 1.63 million, mortgage of 1.153 million. 

I get income from the primary — I rent out the attached guesthouse and Airbnb the main house during my frequent travels.

So I have a decent amount of equity, good credit, good cash reserves, but my current DTI (all 3 mortgages divided by salary plus income from the two rentals) is almost 43%. And I don't think my short history of income from my primary residence will be counted by any banks as income.

What bank might offer a HELOC in this situation?