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Updated over 3 years ago,
How to find financing for investment property with high DTI?
I've very new to the space here. I'm 21 trying to get ahead in life, wish I'd started way sooner but better late than never. About to close on a new home in a small town and selling current primary to live/move there. I can't keep my current job that afforded me the house so I'm going to take a pretty decent pay cut and transitioning into a different field of work all together. I really want to buy a rental asap due to money making machines this beach town brings but I don't want to have to wait until my DTI comes down. My DTI is now going to be very high due to my pay cut. Are there nonQM lenders that dont use your income and instead the rental history of the property your going to purchase? Any and all advice is welcome, I'm still very new to all this. Thank you.