Getting Financing - denied for DTI

[John Saunders]

Hello everyone, I am new to the real estate investing space.

I have been reading, listening to podcasts and I just finished long-distance real estate investing by David Greene! Great read, btw.

I’m in the process of making my first purchase, but first I’m getting a pre-approval for financing. I found the perfect place to invest, have my real estate agent and my mortgage broker. My mortgage broker broker ran the numbers I was approved based on credit, However was denied on debt to income ratio.

I have a good amount of cash reserves and I’m ready to buy. Should I look at other credit union in the area? What should I do next?