All Forum Posts by: Stuart Goodman

Thank you everyone for the input.  It has been an interesting situation for sure.  The communication back after many calls is that it’s a legit thing enforced by Fannie and friends.  Saying the issue was how the schedule E was filled out.  

I am still not sure, so I am pushing the broker and underwriter on it.

I am wondering if I haven't been explaining the situation the best, so just for a recap...wife has an FHA loan in her name for an owner occupied Duplex. We are refinancing into a conventional loan to get rid of the MIP. Communication from Broker/underwriter is that they can't use as much of the rent for income as they did when she applied for the FHA loan, in part because we both had our names in the schedule E.

As such, her DTI is now too high.

Very odd, will let everyone know how it plays out.

For this refi, my wife used a broker. I have him re-looking at the numbers now, because what was being communicated was not syncing up regarding her DTI.

We are refinancing from an FHA to conventional currently. In a month we will be getting a Heloc on the property as well. Fingers crossed this loan happens, it's a killer rate and will save us a bunch, getting ride of the PIM.

 Thanks for the reply.  I am not, my wife owns this Duplex outright.

They said that because we filed our taxes jointly, that she is only able to claim 50% of the rents as income towards her refinance.

The Heloc I have is on a different property, and is only under my name.

Hey, I am new to the forums, have listened to the podcast a while.  

Have a couple of properties, love investing, love architecture.  

In the middle of getting a. Larger HELOC in one property and refinancing another. The refi has hit a snag that I haven't ever heard of before, wonder if the underwriter knows what they are doing haha. Excited to be here!

My wife is in the middle of refinancing a property under her name, and we just hit a snag. The underwriters kicked it back saying she could only claim half of the rental income of the property because we filed taxes as married filing jointly last year. However, because the property is solely in her name, she is responsible for full debt of mortgage. It has thrown off her DTI ratio. Is this a thing, or is the underwriter making a mistake? Do I need to crack some skulls?

They are saying I will need to co-sign, however, I was planning on signing on a new HELOC under my name on another property in the next day or two. Signing could delay the refi if I have to co-sign, but co-signing would also effect the Heloc closing.