Buying a second property in IllinoisMy wife and I own a home in North Carolina. We are both teachers. Due to the threat of cutbacks, we re-located to Illinois. We have always paid our current FHA mortgage on time and have never missed. We have had tenants in our house in North Carolina for the past 5 years. We have claimed the rental income on our taxes for the last 5 years. We currently rent a home that we would love to buy. The owner is working with us and has given us a lease on it. We would like to buy it sooner rather than later. All said, our total DTI with new housing payment included would be roughly 51%. We are looking to put roughly 8% down on the new house. Our current credit scores are 657 and 720. Is this new home a possibility? March 04 2013 - Rantoul00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.