Getting approved for a mortgage

[Anna Stohlmann]

Hi! I currently have 1 primary residence (still paying off my mortgage) and 2 long-term rental properties (both that I have mortgage on). I am wanting to buy another house cash, that eventually I will want to get a mortgage on and use the cash to buy another house in the future (if that makes sense). What my question is, is that I am getting awfully close to having too high of a debt to income ratio to be approved for another mortgage. How does one get around this to get another mortgage? I have an LLC and I have enough cash to buy the house outright but would rather refinance it and get a mortgage on eventually so I can use that cash to eventually buy yet another house to continue build my portfolio.

[Patrick Roberts]

DSCR loan for this. You typically get better terms with purchase money vs cashout refi as well. This is basically the exact scenario that DSCR loans are designed for.