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Updated 7 months ago on . Most recent reply

House Hacking afordability
Hello,
I am a beginner real estate agent and investor. I recently bought a 4-plex conversion and had to sell it on a subject two less than a year later. The next property that I get will be a house hack that I will live in. I have one small problem I need help solving.
My question is what are my options on qualifying for a loan if the property is more than what I qualify for?
My situation: I currently can only qualify for a loan of $210k, because my subject two sale; that loan is still on my DTI ratio. I was offered a duplex for $350k two years ago but I couldn't get funding due to my DTI.
What options do have if I find a two, three, or 4-plex in the $300-$400k that is a deal?
Most Popular Reply

To increase your loan amount, consider strategies like increasing rental income, co-signing with a co-signer, using portfolio loans, negotiating seller financing, down payment assistance programs, paying down debt, and considering alternative loan products like DSCR loans, non-QM loans, and bridge loans. These options can help meet your DTI limits and secure a property in the $300-$400k range.
Good luck!
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