All Forum Posts by: Varun Vemulapalli

Hello all,

Conventional 5% FYI for my primary

Looking for a solution here,

Because I purchased homes(2 investment loans and 2 vacation homes) in the last six months, they are making money paying their mortgages but my DTI high for me to qualify for my primary house which I am closing in June this year.

Which scenario and plan that will help me here

1) Is there a way to refinance one of the second which I bought 2 months ago into an LLC and it will not show up in my credit ? If its a possibility how fast can it be done ? In that way I will reduce my DTI to qualify

2) Is there a way or any lender to show last two months of short term rental income(No leases as they short term) to offset atleast the payments so my DTI will be low to qualify for my primary home.

3) Maybe there are another ways that you guys know which I dont know. Please help me out here!! I am looking for a solution!!

Thank you for your time !!!

Hello all,

I am looking for a solution to a problem. I am Varun bought couple of long term rentals and two STRs last year on my personal names. This year me and my wife looking to close my primary home which 900k with a 5 % down. My primary home lender disqualified me as they did not take the money came from rentals to offset their payments.

I am looking for lender who can take the income from all my rentals to offset their payments and qualify me for the primary home

I am also looking for advice on how to transfer the rentals to brand new LLC to completely remove these properties from my credit report.

Thank you and please advice if there is any other way to satisfy lenders for my primary home.

@Samara Huntley Thank you Samara. Ping me so we can chat.

Hello Biggers Pockets Community, I am a newbie looking to start my investment in Single Family Properties in North Carolina(Mainly in and around Charlotte area (Focused on Kannapolis, Gastonia, Monroe)). So as I already figured out where to invest. Now I am looking for a investor friendly realtor in those areas. I am to happy with any kind of references. Thank you so much. 

Regards,
Varun.