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Updated 4 days ago, 11/29/2024
DTI issues applying for new loan- HELP
I am looking to buy a new property and am running into issues getting qualified for conventional loaning due to high DTI. I have a rental property which cash flows, however on my last tax return I had reported the rehab costs for this property as a write off. So the loan for the rental shows as a debt but the income is not reported to the bank where we are trying to get the new loan. We will be renting our current property when we buy this new property to use as our new primary residence. Any advice on how to get rental income reported (from the current rental property and future income from renting out our primary residence) and lower the DTI??