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Updated almost 4 years ago on . Most recent reply

User Stats

179
Posts
54
Votes
Chris K.
  • Investor
  • Florida
54
Votes |
179
Posts

How to get financing if DTI to low but liquid assets very heigh?!

Chris K.
  • Investor
  • Florida
Posted

If:

-Current joint primary Mortage with spouse 300 k

-Won’t qualify for conventional or investment loan because dti is too low (they ding you for entire primary mortgage plus taxes)

- liquid assets 600+

-current home equity 800k+

Looking to buy second home for short term rentals / investment around 300-450k

Besides HELOC what are best loan options and why?

Most Popular Reply

User Stats

37
Posts
52
Votes
Jack BeVier
  • Professional
  • Baltimore, MD
52
Votes |
37
Posts
Jack BeVier
  • Professional
  • Baltimore, MD
Replied

Seasoning is a serious frustration. We designed our program with @Chris K. your issues in mind. 3 mos seasoning, 75% LTV cash out, LLC ownership, 30yr fixed rate and 30yr term, rates in the 4s (down to 3.75% with a buydown, actually). The loan amount is sized based on the value of the property and the rent. Your personal DTI is not a factor (don't even ask for tax returns). 680 min FICO, though. We own 762 rental properties and this has been a game changer for us. It only became available at these rates in the past few months.

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