I’ve recently been thinking about renting out my current primary home (built & moved in 2019: value $550K: have a mortgage loan of 2.65%) and buying a new primary home (built in 2020: value $700K: thinking 20% down +80% loan to purchase) in the same area.

20% down is a conventional loan, btw.

What we've generally found is the new lender will count 25% of the old loan against them (for DTI purposes) IF we can provide documentation. 

Hi all,I purchased a two-unit home a few years ago as my primary residence with a conventional loan, and was told by an accountant that there is no reporting or extra tax forms I need to file as long as my tenant in the upstairs unit is paying less than the total of my mortgage.

@Keegan Darby , any assumption would be determined by your Loan Docs (The Note), and the servicer should be contacted to determine the process if it is assumable.

I've found some lenders that will go up to 80% sometimes, but I think your best bet might be a government-backed loan if you want such a high LTV ratio.

However, I'd appreciate it if someone could confirm this and provide more specific details, including the relevant zip codes.Thanks :)We had a lot of problems with Guests at our STRs in Jacksonville Beach (ended up selling them!).

Are there any local or semi-local banks that offer loans to those with no experience?

I responded to the review and contacted Airbnb support, who removed the review for being biased.Next Steps:I’m considering updating our Airbnb policies based on this experience and any advice you can provide.

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