All Forum Posts by: Michael Wintercorn

the debt to income is all from the duplex I have no consumer debt and my truck is paid. I have only talked to Wells Fargo about a loan but the loan officer told me the potential rental income would never be used to qualify and that my only two options were to pay cash for any future properties or get my debt ratio lowered. I really appreciate all the great feed back that everyone is giving me!

I am hesitant to pay the debt down because I was able to take advantage of the record low interest rates in 2012.  I have a fixed 30 year for 2.9 percent.  Am I crazy not to pay that down? Versus investing the cash into other avenues that yield a higher return. 

I want to start out by saying I really appreciate all the insight this community has given me prior to joining.  Also if this post is in the wrong forum feed I apologize.

I purchased my first property in 2012.  The property is a duplex were i have lived on one side and rented out the other for the last two years. I want to start to acquire more investment properties but I am unable to finance anything. I am at the peak of my debt to income ratio.  I have heard that some lenders are willing to use a percentage of the potential income to help satisfy the underwriting process but i get mixed messages from the Banks.  Are cash deals all that I can do until I start to reflect more income?

Background: Clean credit, Solid career history, and capital for the down payment.