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Updated over 2 years ago on . Most recent reply
Lowering DTI by renting home to an LLC I own
I have my homestead property we are going to AirBnb in the future. We would like to buy another home but my DTI is too high with my current home. I know that I can rent it out long term and it can be taken off of my DTI. If I were to open an LLC and rent in to my LLC would it be taken off of my DTI? If not is there a waiting period to show that the property has positive income since I will be the owner of the LLC? We plan on otherwise renting until we are able to qualify for another mortgage.
Most Popular Reply
Quote from @Galen Ikonomov:
Aah, gotcha.
@Joshua Jones You mentioned "we" a couple of times. I assume you are married. What is your spouse income looking like?
Wife is a stay at home mother so no income.