Debt to income issues

[Brendan Merrill]

Hello all,

I am currently 22 years old serving the next 3 years in San Diego on Active Duty orders. I am looking to buy an investment property (preferrably a 4 plex) somewhere out in the midwest while still living in CA. In the next year or so I will have enough for a down payment. The biggest issue I am running into is I had to buy a house when I moved to CA in October of 2021 and just the mortgage alone shot my debt to income up to 52%, however my credit score is almost picture perfect for my age. Is there any way to still get financing for an investment property with already having a really high mortgage. I bought using the VA loan with zero down so I dont have any equity to refinance at this point. Selling or house hacking is not an option because I am married with kids and renting is even more expensive than a house payment.

Thank you in Advance!

[Joshua Janus]

Use a DSCR loan but you will need 20-25% of the down payment. Will be a slightly higher interest rate but doesn't take into account your personal financial situation except credit score.