Qualifying Income
Qualifying Income
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This worksheet uses current leases x 75% across the board . The resulting ratio is 41.7% . This is not a stretch at all if we can agree on proper numbers. The only one that may need some special attention is the 627 S. Paca St rent allocation. It's unreasonable to use 26k, the 2020 gross rent value as a projection for 2021. Ironically, if that is used, we still qualify...
Current Leases with a 75% rental factor results in a 41.7% DTI.
The image below has current leases with a 75% rental factor with the exception of 627 S. Paca St. That gross rent was dropped to 2700 and the DTI ratio went up to 44.3%. So we still qualify...
The image below has current leases with a 75% rental factor with the exception of 627 S. Paca St. That gross rent was dropped to 2166 and the DTI ratio went up to 46.7%. So we still qualify...
What happens if we REMOVE the 75% rental factor and we just look at this with current leases and last years operating expenses ? I'm seeing a 37.9% DTI, how about you?
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