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Updated almost 10 years ago on . Most recent reply

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35
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3
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Kyle Rice
  • Investor
  • Wasilla, AK
3
Votes |
35
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Do banks factor in trusts or LLC when running debt/income ratio

Kyle Rice
  • Investor
  • Wasilla, AK
Posted
I have been applying for new loans to buy another property but my debt to income ratio is high because of my existing mortgage on a 4plex. If my 4plex was owned by a trust or LLC would I still have this problem since technically it would not be in my name? Can a trust have a mortgage on it? Is it legit to use a trust or LLC in this way? How do others make this situation work?

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

If you have a personal guarantee on the loan, which you would, it wouldn't make any difference.

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