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Updated over 5 years ago on . Most recent reply
DTI and BRRRR strategy issues
Our goal is do multiple properties at one time using the BRRRR strategy. HOWEVER we have noticed that banks will not allow us to include the rental income as income when refinancing unless there is a two year history. So how are people getting approved for multiple home loans in less than a year after they started? Their DTI ratios must not be the greatest if they can't count the income for two years. Their must be a way around this that I have yet to discover. We currently have 3 mortgages and are trying to prepare for when we buy the next.
Has anyone else been running into this issue?
It’s something that I have not gotten a clear answer for.
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
@Matthew Powell you should talk to several banks. Some banks like portfolio loans and will do multiples. Also mortgage brokers are a good source for multiple rental property loans.