Can I get a mortgage to buy townhouse in Brooklyn, NY?
I'm planning to buy a third house. It would be a townhouse in Brooklyn, NY. My budget is around $1.7 to $2.1 Million for 1-2 family house. I wouldn't be renting any of it.
I currently have an apartment in Brooklyn, NY (my primary residence) valued at around $900K with a remaining $240k Mortgage balance. $3200 Monthly mortgage payment, I also pay $500 a month HOA fee
I also bought my second home in NJ two years ago for $371k (valed at 430K Now) with a remaining $280K Mortgage balance. $2300 a month payment
I'm planning to rent out my (primary residence) the Brooklyn apartment and buy a bigger new house as I'm planning on having kids. My income is $300K a year, my wife started a job in January and makes $100K. We don't have any debt except for the two mortgages mentioned above. We also have approx 300K retirement accounts which I'm not planning to use. We can put 20% down and our credit score is above 800.
Can you please let me know what my options are to get a mortgage?
Income $400K
1st Mortgage payment: $3200 + $500 housing fee
2nd Mortgage payment: $2300