high DTI & want a second mortgage for investment property
Hi i currently own a home and the mortgage tax and insurance is $1765 with a 300k loan and a 55-60k income. If i want to get a second mortgage and get a two family home. Can I potentially rent this house out for say 2400 and have 75% of that counts as income towards my next mortgage and at the same time count the potential rent from one of the two family unit to get a bigger mortgage.