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Updated over 8 years ago on . Most recent reply
Luke CarlPoster
#3 Short-Term & Vacation Rental Discussions Contributor
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
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Refinancing with a Partner and how to handle DTI
Luke CarlPoster
#3 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
Looking to make an offer on a bank owend auction.com property with a partner on Monday. He's bringing the cash (I'll be the sweat/management) and we would want to refinance into a conventional so he can get his money back and of course hopefully do this process a second time or 20 times.
1. Are we financing 80% conventional so he's still putting in 20% cash?
2. Looking to put both of us on the loan how does this work DTI wise? I'm already at 43% are they going to tell me no way??
Have a ton more questions based on how these are answered