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Updated over 4 years ago,
Help! Trying to acquire a loan for a home with equity but -
I have a rental property with a $14,000 balloon payment due next month. It is worth around $70,000, plus has a good tenant paying $620/m. I have applied for and been turned down for a secondary market loan from a broker and a bank loan from a local bank because I only have rental income and contract (gig) income. I also have 2 other properties to use as collateral. I'm looking for advise on how to get a loan for this property when my debt-to-income is not what banks are willing to work with?