Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

Account Closed
  • Involved In Real Estate
  • Brooklyn, MD
6
Votes |
18
Posts

Ready to take the next step but.....

Account Closed
  • Involved In Real Estate
  • Brooklyn, MD
Posted

financing is an issue. I currently have a SFH that is my primary residence. I have renters lined up that would like to rent my place but I am having difficulty getting financing. I have spoken with three lenders and they all require a minimum of one year of income from the property, along with tax returns showing the income before they will allow me to qualify with the rental income.My debt to income ratio is maxed and there isn't much I can do to raise income in the short term. Should I stay in the house and focus of debt reduction, rent it out for income and live in an apartment for a year or are there options out there that I'm missing? I have spoken to a mortgage broker, community bank, and a large national bank.

Loading replies...