You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

I'm based in the Boise area so we're a little far apart.

Hey @Aaron Ram, fellow Stamford-based investor here.

However, these programs typically qualifies borrowers based on their income, such as tax returns.The DSCR would be a good option considering you and your husband are entrepreneurs and the tax returns don't look good on paper.

I am located in Arizona and have been in manufacturing for 20+ years while my brother is an experienced contractor based in California. 

Based on our preliminary plans we should be able to relatively easily convert the basement into a 3rd unit or just rent the 1st floor as a duplex down 4bd.

In my experience, these are also referred to as "QM" and "Non-QM" loans ("QM" = Qualifying Mortgage)And as consumer mortgages, these loans are generally issued under the person's name with the underwriting based primarily on the borrower's DTI (Debt to Income) ratio.

You already have the Farm Patch, and Chicken Oil Company is an iconic restaurant that should be open again soon.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Hi Ryan,Typically construction financing isn't based on your taxable income and rather more contingent on your experience, FICO and the deal itself.