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Updated about 1 year ago,
Refinancing with hight DTI
hey folks, i have a primary home with a mortgage and an investment property with a tenant inside and no mortgage on it. I recently acquired a building that i will be turning into a restaurant. I want to either cashout refi or get a HELOC on the investment property for about 250-300k to use towards remodeling the new building. My concern is my DTI to include front and back end is about 60-65% is there anyway i can take some of the funds from the cash out refi or heloc to pay down my debt and lower my DTI as closing to actually qualify? Or would i not be qualified until i am within their DTI range? Thank in advance