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Updated almost 7 years ago on . Most recent reply

Going from SFR to second property (small multi)
Hello Bp Community!
My wife and I just purchased a SFH home 5% down owner occupy conventional loan a few months ago. Once our year is up of living in the property our plan is to move out, turn it into our first rental and buy a small multi to house hack using a low down payment FHA or conventional loan . My concern is our DTI not allowing us to purchase a second property if it looks like we have to carry two mortgages. I think if we are able to count the rent from our SFR once we get it leased that would free up enough credit to qualify for a multi. Our question is at what point can we count the rent from our SFR to help our DTI when applying for a second loan? Is it right away soon as we get a lease in place or do we need to have track record for a While?