Refinance issue on mortgage

[Mike Jerez]

Hello everyone I need some advice on how I can refinance my current mortgage. My current mortgage payments is about 4700 with taxes and insurance included, I currently have 455,000 left on the mortgage and the home is valued at 1.5 million. The only issue I am having is my current bank is not letting me refinance because of my DTI, I earn 40k from salary and have rental income of 5.5k a month on that property. So I'm not understanding why they are not allowing me to refinance to a lower rate

The current mortgage rate is 5.3.