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Updated about 4 years ago on . Most recent reply

User Stats

4
Posts
3
Votes
Adam Wright
  • Investor
  • Dallas, TX
3
Votes |
4
Posts

High DTI Preventing Loan Approval

Adam Wright
  • Investor
  • Dallas, TX
Posted

Hello,

I'm looking to purchase my next rental property and have run into a snag with financing.  My Debt To Income ratio is currently around 50%, which prevents me from taking out a conventional loan.  I have the cash on hand to cover closing costs of the properties I'm looking at, but just can not get the financing part approved.  I've already been turned down by several lenders.  Anyone have suggestions for what to do next or where to look for financing a cash flow positive investment?

Thanks ahead of time!

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