If looking to buy a second home/investment property, does the property's past STR income help the DTI calculation. Obviously rates are high, but what are current terms for such a deal?
The past income STR income will not help qualification.. If it is an investment property you can use 75% of the appraiser assement of the rent but that nunmber will be much closer to a 12 month lease then STR income. If you call it a second home you can even use that for qualification.
Thanks jay. Looking at a place that we'd only probably use a few times a year for now and is more than I'd want to spend. But it brings in about 15,000/mo income so wondering if we could make it work.