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Updated over 11 years ago,
Funding
I have 3 houses each $2700 a month in mortgage and no other debt; no credit card, no car nothing else. My total expense is $2700*3=$8100 monthly. My question is in order to buy my 4th house 1million dollar FHA 3.5 down house which will be $6000 a month. I have to show monthly income of $31,333 per month.. because the bank will only let me borrow up to 45% DTI ratio... is this correct? I think im doing something wrong.. becuase i know others who have 12 houses and i dont think they show that much income... what is the best way to get this 1million dollar house $6000 a month?