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Updated about 8 years ago,
BRRRR strategy ~ Refi'ing with High DTI
Hello I am wondering, if I buy a foreclosure and rehab it using personal loans and credit card. Will there be more hurdles getting the property refinanced? For refinancing a BRRRR home do banks look as closely at DTI as they would with non income producing properties. There is a deal I am eyeing, but the personal loan I would need to finish the rehab would bring my DTI (without my rental income because all are < 2 years mature) up to near 55%! With my current rental income and projected income from the propery, I would be more than fine with my DTI, but I would like some input & guidance.. are there any investor friendly banks that deal with these types of refi's? thanks for the help guys