I was told today that we were preapproved for our new build in Fort Worth. I am military and will stay in MD while my wife relocates in a couple of months. Home should be finished around Oct. We plan on keeping our current house and renting it out. I plan on getting an apartment once my wife leaves. Will this rent count against my DTI for the new house? I am wondering if I should just stay in our house in MD until the very last moment before we close and live in a extended stay until after closing.
Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
...no, apartment rent won't count since it will end once you've closed and relocated ...but any mortgage you have on the property you are renting out will count and the expected rental income probably won't count since you have no rental income history ...you need to talk to your LO and hopefully its not the builder ...hth
...btw, you need to update your sig content, its seriously out of date and confusing 
ok thanks. Will update signature soon. I own 2 rental properties so when this one converts it will be number 3. Last year was the first year I showed rental income history so I'm good to go there. Talked everything else over with the LO today but I didn't ask that question.
