Asked by Derek Shockley, Aurora, CO • Sat Jul 7, 2012
I currently own two homes I purchased with my VA entitlement. The first was in VA and has been rented continuously for three years. The second home is my current primary residence in CO. I am looking at a potential relocation to NY and wanted to know if it is possible for me to qualify for an FHA loan. My house in VA rents for 220 above PITI and my house in CO would rent for about that as well. If it is possible to qualify, how would the mortgages and rental incomes be used in the debt-to-income ratios?
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