How Many Homes Can You Buy And Rent?
We currently own 2 homes and are thinking about re-locating to another area which would mean we would need to get a 3rd home. We currently rent 1 of our 2 homes, but my question is will a lender be willing to lend someone a 3rd home loan so long as they have their other homes rented out to cover the mortgages?
Example: Home 1 mortgage is $1500 rents for $1900. Home 2 mortgage is $2500 rents for $2900. Does that offset your debt to income allowing you to take on another home loan?
Any help is appreciated!