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Updated almost 3 years ago,

User Stats

145
Posts
42
Votes
Frank Agyeman-Duah
  • Real Estate Agent
  • Dallas, TX
42
Votes |
145
Posts

1031 Exchange and high DTI

Frank Agyeman-Duah
  • Real Estate Agent
  • Dallas, TX
Posted

I have already started a 1031 exchange to sell my property and have accept a cash offer for same. Closing is on 4/7/2022 but two lenders are telling me that my DTI is over 50%. My fear now is to close and will not be able to meet the 1031 time limits to purchase a new property that I intend to use for short term rental. Need suggestions on how I can work around this.

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