Depreciation affect of DTI
Hi everyone! I have a great W2 income and paid off house. Aplied to increase my HELOC with Truist but was denied due to high DTI. It was high because of my 4 rental properties. Bank counted depreciation as a loss against my W2 gross income and counted 4 mortgages as my personal liability. In reality, all properties cash flow and pay for themselves. They are not using FNMA cash flow calculations. They said I would have qualified for 500k LOC if it was not for rentals😂. Anyone with similar situation? Anyone can recommend investor friendly bank? Any input appreciated!