Anyone know a residential lender smart enough to deal with our tax returns?
# Cross post from r/fatFIRE. 

We have a low/mid 8-figure NW and low 8 figures in debt mixed across a variety of CRE: multi-family, medical office, mixed use, etc. Occupancy is 100% across the portfolio. Have low 7 figure liquid net worth but it's in well-performing assets I'd rather not sell. Gross rents from our properties are in the low 7 figures. True net, after-tax cash-flow is in the mid+ six-figures. But our tax returns show (very) low 6 figure AGI owed to depreciation an interest deductions. That's by design of course, but the problem is I've now had two home-loan requests turned down - including one from where I do my primary banking - because they can't get out of the box at all in underwriting. No matter how much I try to explain things they just can't seem to get it.

I have no W2 income, so to get a clear understanding of my financial picture and ability to carry debt, and map my cash reality to my tax returns, the process is pretty obvious (to me anyway): start with gross rents, subtract expenses, subtract debt service, add back depreciation, and add dividends and interest. But somehow in the bizarroworld in which I've found myself, that's apparently not what they're doing. I've not been able to get clear answers ("not allowed to speak to the underwriters themselves") but near as I can tell they're doing some combination of not adding back the depreciation, and/or not counting the rents. But still penalizing me for the debt service.

It's not a crisis in that I can always use margin, but the margin rate is meaningfully higher than the crazy low IO home-loan rates I'm seeing (2ish% for 7 years) but can't get approved for despite being amply able to carry the incremental debt.

Any CRE investors have a good residential mortgage lender??? Kind of a crazy place to find myself in, but here I am.
[{"id": "fjldqlo", "text": "I don\u2019t have a name, but you need a mortgage broker (not lender) who works with self-employed borrowers. It shouldn\u2019t be that difficult in this environment.", "replies": [{"id": "fjlg5q8", "text": "I agree. Unfortunately my mortgage broker went in house at a place with sub strict underwriting. Zero flex or out of the box at all. \n\nI\u2019ll probably look for one where we\u2019re going.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjlgxmx", "text": "If you are in Canada I can give you a good broker that deals with Investment properties.", "replies": [{"id": "fjlixdz", "text": "Thanks but I'm in the US.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjn26cm", "text": "Talk to the bank where you keep your deposits. Most have a \u201cprivate\u201c or high net worth side.", "replies": [{"id": "fjnczmb", "text": "Thanks. Have already done that. It's ML, where I can get a margin loan (but at rates higher than IO home loans), but BofA's underwriting is bizarrely unable to see the entire picture.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjpltbh", "text": "If you\u2019re in the Boston area PM me. Work at a cre mortgage broker and have contacts that work in resi mortgage lending. Should be easy to pair you with a lender who can get their heads around that u/w as long as your credit\u2019s good.", "replies": [], "depth": 1}]