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Updated almost 8 years ago,
Personal Financing for my Home, My rentals as hurting me
I have ran into an interesting financing situation and I know that this community will help me like they have so many times before.
My wife and I recently moved to Pittsburgh and we decided we wanted to rent for a year before we decided to purchase. We have been here 6 months now and we are ready to make an offer on a house. In the past 6 months I have bought 3 rental properties here in Pittsburgh and now every lender I speak with is taking the debt from these and counting them against my DTI ratio, but not giving me credit for the rent. This is throwing my Debt to Income ratio out of whack, I have great credit, I can put a large down payment if I have to. I know the deal makes sense for the bank I just need to find a lender who understands it.
Any information or leads on banks would be very appreciated.
Thanks.