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Updated over 3 years ago on . Most recent reply
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Debt to income situation
I currently own a single family (primary residence) and a condo (rental).
for about a month we were in the process of selling our single family after we find a multi family to house hack but an opportunity came up for a condo that is about to come on to the market and I am currently in talks with my loan officer how to go about this to get it financed.
he as mentioned if i were to get the condo(investment Property loan) i may have trouble trying to get into a multi family after because of debt to income ratio will possibly go sideways.
now it raises questions for me ..
will that mean that if i hit the range where my debt to income that i wont be able to secure any more/any kind of loans from the bank ?
how do i get my next deal if banks wont loan me because iv hit my debt to income ratio by owning multi properties ?
will it mostly be private money i need to use ?
do HAVE to partner up ?
Thanks in advance.