Am I stuck now DTI??

[Paul Scammacca]

Morning all

I have managed to purchase 6 rentals over the last 5 years will 5 of those properties still holding notes. It seems we are up against DTI for our personal income as a measuring stick to purchase another property. We have equity in 4 of the 6 properties ( really 5 one Mobile Home on 2 acres paid for no one will lend ). The equity is low on each about 40-50K on each of the 3. My thought was to refi one of them and use those funds as a downpayment for a townhome (daughter going to university) and rent a room and my daughter live in the other. Problem is I dont think I can get funding now. Is there any way I can move here? Our income w2/1099 is low about 140k a year household so thats the measuring stick. From all properties we are averaging about $375 per door per month. Thoughts??

[Alex Bekeza]

@Paul Scammacca As long as the rent can support the new proposed PITI you can get up to 75% LTV cash out at near conventional rates using a DSCR loan. No DTI, no Tax returns. Just need gross rents divided by PITI to clear a 1.0 (DSCR).