Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
High DTI Preventing Loan Approval
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!