Using rental income for a refinance

[Pat Jackson]

I am trying to refinance my primary residence. I am told my debt to income ratio is too high for the balance I need, however federal underwriters will not allow the use of rental income on any of my properties. Here is a problem I am trying to overcome:

My wife and I, with 3 other investors purchased a 108 unit in the first quarter of 2022. Each party owns 25% and receives 25% of equity and cash flow. We own this as tenants in common. All owners have signed promissory notes and personal guarantees. I am being told that only 25% of rental income can be used (this makes sense) but the entire debt payment must also be factored in. Having to cover 100% of the debt eclipses the income. This isn't reality, since everyone has signed a personal guarantee.

Does this make sense? Does anyone know any way to have my income from this 108 unit counted towards my income?