Mortgage for Primary Residence- Multiple Properties

[Rian Ash]

Hi BP Members,

Here is the situation I am in

1) I own 4 properties ( i am the only one on the  mortgage and the title)- 3 rental and 1 primary. Considering the rental income, my D/I ratio is currently at 25%

2) My wife owns 2 rentals and we are planning to get 2 more for her (she alone will be on the mortgage and the title). Considering the rental income, her D/I will be around 20%.

We are looking to buy a new primary residence for us. Once we buy the next one, we will sell the current primary residence. The issue is we both need to apply for the mortgage otherwise our D/I will not be enough to quality. The question is

1) How will this be treated? Since we are buying  a primary residence, can we still get conventional mortgage by putting 10% down?

2) After closing if we refinance and let my wife be the only one on the mortgage and the title, how much minimum equity do we need to have in the property for conventional financing?

Thanks a lot for your guidance