Exit strategy - refi out of lender's loan

[Travon Allender]

A portfolio lender is interested in lending me capitol on a property (buy and hold).  The lender will cover acquisition costs (purchase and rehab).

To date I have been unable to modify the mortgage on my primary residence (unable to refi and modify) due to being under water and negative DTI. I was told (via HML) I will also be unable to refinance (refinance to ARV to repay lender) the (buy and hold) property for the same reasons.

Does anyone know of a way around this?

[Jon Holdman]

@Travon Allender I assume you're trying the strategy of buying with hard money, fixing, renting, then refinancing into a long term loan. Yes, your personal financial situation will definitely affect this. Not sure what you mean by "negative DTI". DTI can only be a positive number. I assume you mean its too high. Lenders for investor loans will go to a higher DTI than for a residence, though. As high as 45%, maybe a little higher. They will also look at cash reserves and credit score. But just being underwater on your residence is not a negative on your credit score. If you've missed payments, they you may well have hurt your credit score.

@Daria B.  if you're looking for the name of a lender you'll need to post in the Marketplace.