Two mortgages at the same time, will they know?
Here's the background: I have an investment property under contract here in the DFW area, and we are actively looking for a primary residence as well. Both together might possibly put me over DTI restrictions. (I've got two others in my name as well)
So I was wondering, if I apply for both mortgages as the same time, will each one know about the other? For my other loans, the credit checks were run a couple of weeks before closing, so at the time the reports are run, neither of these loans would show. Is this information that I need to disclose?
To be clear, I'm not trying to be fraudulent! But if it's not totally against the rules, I'd love to maximize my borrowing power. If I'm not able to do it, we'll have to put one of them in my husband's name, but again, I'm trying to maximize our borrowing power.