If I purchase a rental with a commercial loan from a bank in an LLC, will that loan affect my debt/income ratio and my ability to get a Fannie Mae personal loan in my own name? I'm trying to maximize my borrowing ability. Right now, I have two SFR rentals in Fannie Mae loans and my debt/income ratio will allow me one more Fannie Mae loan this year. Will a commercial loan from a bank screw up my debt/income ratio for a personal Fannie Mae loan? Does anyone have any strategies and advice?
Hi @Matt Wells! I'm not clear on the exact answer to your question and I'm hopeful that one of our excellent lenders will be following my post to add some clarity there, but what I wanted to add was this:
Even if it affects your personal debt amount, it would also affect your income amount (assuming it is leased out). The more rent you have to cover the debt, the better.