High DTI, trouble with getting preapproved for much.

5 Replies

My DTI is around 46 percent. Student Loans are kicking my butt and am having trouble getting pre approved for much to get the first deal. Just wondering if anyone else out there had this issue and what they did to get approved for a decent amount to get a deal going. Thank you!

Are you buying a primary that you will house hack, or is this a true investment property? If its an investment property, then you are in no shape to purchase it. Payoff those loans first, or pay it off to the point that your monthly payment is negligible.

@Dylan Kembre there are lenders who go up to 50-55% but they charge more. I've seen some that with 15-20% down, they don't blink at a high DTI.

Another option is if you can find something that has owner financing.  Owners may not figure the ratios.