All Forum Posts by: Victor Velazquez

Patsy Waldron thanks so much, that is some good advice and the route I was thinking about going. I appreciate hearing it from an investor.

Thanks again Chris Mason for taking the time, that is extremely helpful knowledge for this new investor. Al Casino , also a very valid point. My siblings and I split the mortgage payment for my mom's house, so I'm not on the hook for all of it (although on paper I am...). Standard lenders won't take into consideration the money I get from them each month as rental income. I appreciate your thoughts and looking out for new investors. Andy D. Thanks for your time and for confirming there is hope!

Thanks Chris Mason ! Are you saying a lender should take into consideration the assumed rental income from the rental property I'm buying to calculate DTI? Thanks for your time!

I would really appreciate some advice; My wife and I are co-borrowers on two properties, our principal residence and my mom's home (neither of which provide rental income). We now want to buy our first investment property and I would like to apply for a loan individually to maximize our loan possibilities. Only issue is our first two loans put my individual DTI over 50%. My wife and I make about the same so she would have the same issue if she were to apply individually. I'm hesitant to refi to put these loans on one of us individually because they're at a good fixed rate at 3.75%. If we apply jointly for our rental properties that would cap us at 8 loans. I'm thinking that's our best option right now though. Did I shoot myself in the foot with these two loans? (For the record, these were done before I was introduced to BP forum).

I would really appreciate some advice; My wife and I are co-borrowers on two properties, our principal residence and my mom's home (neither of which provide rental income). We now want to buy our first investment property and I would like to apply for a loan individually to maximize our loan possibilities. Only issue is our first two loans put my individual DTI over 50%. My wife and I make about the same so she would have the same issue if she were to apply individually. I'm hesitant to refi to put these loans on one of us individually because they're at a good fixed rate at 3.75%. If we apply jointly for our rental properties that would cap us at 8 loans. I'm thinking that's our best option right now though. Did I shoot myself in the foot with these two loans? (For the record, these were done before I was introduced to BP forum).