Will an SBA 7(b) Disaster Biz Loan prevent me from qualification?
I got approved for an increase in the disaster loan to my business (I'm self employed) by the Covid 19 Disaster Loan program. This is a 3.75% 30 year repayment loan to the business.
Because it was over a certain $$ amount, I needed to put a personal guarantee on the loan.
The loan is technically to the business and the business is responsible for paying back the loan. However, due to the size of the loan, I did have to sign a personal liability.
Will this loan affect my ability to get a personal mortgage for an investment property? Does Fannie count business SBA 7(b) loans on my personal liability for my debt ratio?
Thank you!